Inflation in foodservice prices reached 3.2% in July 2018, the new Foodservice Price Index from CGA and Prestige Purchasing reveals—extending an upward trend that has seen prices of many food and drink items hit record highs.
A flat market, fierce competition, mounting costs and staff engagement are among the big pressures facing out-of-home eating and drinking operators at the moment, CGA’s client director Fiona Speakman told the recent Arena Summer Event.
The overall index remains at a lower level after a tough 2017 and continues to provide some relief to the sector, however, the upward movement this month demonstrates that Inflation in Foodservice remains fragile, the latest CGA Prestige Foodservice Price Index reveals.
Foodservice price inflation dropped back to 0.5% in February 2018—the lowest point since the EU referendum. That is the headline finding of the latest edition of the CGA Prestige Foodservice Price Index.