Year-on-year inflation in the Foodservice Price Index fell to 4.6%, the lowest in 28 months; month-on-month deflation of -0.4% in May, showing a sustained return to pre-pandemic levels.
The basket of prices in FPI declined in six categories, notably oils and fats; year-on-year deflation for six months signals substantial price stability in the foodservice sector.
Stability in prices allows for better future planning, with significant implications for consumer confidence as menu prices trend more steadily, indicating positive prospects for the sector.
Buyers warned against supplier increases during falling inflation period; general stability eases businesses' planning, reassures consumers on menu prices & spending confidence going forward.
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