Ticket prices for one of the most highly anticipated live music events in Europe, the very popular Glastonbury Festival in the UK, are rising for 2023. The festival’s organizer attributes this increase to the present economic climate and COVID-19’s financial impact.

A regular ticket for the 2020 event, which was finally held earlier this year after being postponed for two years due to COVID-19, cost £265 ($299), plus a £5 booking fee and a £50 deposit. A standard ticket to the 2023 festival will cost £335, including a £5 booking fee and a £50 deposit.

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Festival director Emily Eavis tweeted in defense of the ticket price increase. “We have tried very hard to minimise the increase in price on the ticket but we’re facing enormous rises in the costs of running this vast show, while still recovering from the huge financial impact of two years without a festival because of COVID,” the tweet read.

The UK is experiencing extremely high inflation, with prices increasing an average of 9.9% compared to 2021, far more than the Bank of England’s 2% aim. The Bank forecasts that inflation will reach a peak in October at 11%, then rise over 10% for a while before beginning to decline, but it also issues a warning that some items’ prices may continue to be high in comparison to earlier times.

According to Eavis, the deposit of £50 is unchanged from 2022, and the remaining balance is not due until April 2023.

“In these incredibly challenging times, we want to continue to bring you the best show in the world and provide our charities with funds which are more vital than ever. We are, as always, hugely appreciative of your ongoing support,” Eavis said.

Glastonbury 2022 attracted over 210,000 people, including staff and musicians. The 2023 event is scheduled for June 21–25. On November 6, tickets will go on sale.