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Foodservice price inflation rose to 3.7% in February
28/03/2017 - 08:31
The latest edition of the CGA Prestige Foodservice Price Index has revealed that foodservice price inflation rose to 3.7% in February and further increases are expected.
Written by Andrew McClean
CGA Prestige found that rising foodservice inflation has been the result of factors such as the lower than usual supply of key items and the weak pound.
Christopher Clare, head of consulting & insight at Prestige Purchasing, said: “Inflationary pressure looks set to continue, with our FPI forward forecasts showing we might just hit 5% in the next couple of months. We are in for a continued period of volatile pricing and operators will find that their supply chain is demanding extra focus and that good data is key.”
Fish, sugar, chocolate and vegetables have experienced particularly high inflation, according to the Foodservice Price Index.
The Foodservice Price Index is jointly produced by Prestige Purchasing and CGA Strategy, using data drawn directly from the foodservice market covering circa 7.8 million transactions per month.