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CLH Digital - Issue #157

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THE LEADING PUBLICATION FOR THE HOSPITALITY SECTOR & LICENSED TRADE Issue 157

Foodservice Inflation Reaches Record 45-Year High www.CLHNews.co.uk

CLHNews

Soaring food costs are creating an unsustainable trading environment for the UK hospitality and licensed on trade sector, as figures released this week reveal that while inflation declined marginally in March, it still remains at over 10%, according to consumer price index data published by the Office for National Statistics (ONS), with food and drink prices continuing to increase at the fastest rate the nation has seen in 45 years. This marginal decline in the rate of inflation was offset by inflationary increases in the food and non-alcoholic beverage category, which saw increases of 19.2%, up

CLHNews

CLHNews

from 18.2% in the year to February 2023 - the highest level since August 1977. The largest contributor to the rise in food inflation was bread and cereals, for which average prices rose by 19.4% in the year to March 2023. Prices are also rising in restaurants and cafés, where the annual inflation rate was 10.4% in the year to March 2023, although that was down slightly from 11.4% in February 2023.

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