Foodservice price inflation accelerated 6% in March
The most recent edition of the CGA Prestige Foodservice Price Index has revealed that Foodservice price inflation reached 6.0% in March, in part due to the dramatic rise in the price of fish and continued inflation in sugar, meat, cereals and vegetables. The topline figures show inflation in wholesale foodservice prices is accelerating, following year-on-year inflation of 1.8% in December, 2.9% in January and 3.7% in February. This has resulted ina significant gap between the Foodservice Price Index and the Consumer Price Index, which changed 1.2% in the 12 months to March. A host of factors have affected prices in the foodservice sector, such as the weak pound, rising fuel prices and a drop in supply of certain items, along with occasional climatic and regional issues. The inflation rate of 6.0% is substantially up on historical averages, and March prices were higher year-on-year in all ten sub-categories of the Foodservice Price Index measured by Prestige Purchasing and CGA Strategy.
Source: Propel, 28th April
