I'm not a Londoner, I only visit occasionally, but I think this may be a psychological response to a big increase.

I used to like going out in London: "everything's so cheap!" Especially, getting a nice beer at a random pub would cost significantly less than a random basic lager in Paris.

But this year, I was shocked to see the price increase. It's now pricier than Paris, even though Paris prices have also edged up a bit.

And since my cash is Euros, I always compared the prices as converted to euros, so this accounted for the conversion rate variations.