"Food and drink prices in the hospitality sector rose by 0.7% in September, taking the Foodservice Price Index from CGA by NIQ and Prestige Purchasing to a record high of 151.1. This latest movement marks the sixth consecutive month of rising wholesale prices for the UK hospitality and foodservice sector, underscoring persistent inflationary pressure across multiple categories. While the Index recorded a smaller month-on-month increase of 0.7% from August, upward pricing momentum continues despite mixed global commodity signals."
"Inflation was most acute in the oils & fats category, where prices surged by 2.9% month-on-month. This escalation was primarily fuelled by tightness in the global supply of high-demand items like sunflower and rapeseed oils, which more than compensated for minor dips in palm and soybean prices. Pressure on inputs extended to the bread & cereal category, which recorded a significant increase of 1.6%."
"Further inflationary challenges came from physical supply constraints, notably in the fish category, where prices rose by 1.4% due to limited whitefish quotas. The UK's challenging summer weather meanwhile contributed to a 0.5% increase in the vegetables category, as heat stress and water scarcity affected crop yields. There was some relief in the mineral water, soft drinks & juices category, where prices contracted by 0.4%."
Food and drink prices in the UK hospitality sector rose 0.7% in September, taking the Foodservice Price Index to a record 151.1 and marking six consecutive monthly increases. Inflationary pressure was strongest in oils & fats, which jumped 2.9% due to tight global supplies of sunflower and rapeseed oils. Bread and cereal prices increased 1.6% as domestic energy, packaging and labour costs offset softer global grain prices. Fish prices rose 1.4% because of limited whitefish quotas, while vegetables were up 0.5% after summer heat stress and water scarcity affected yields. Mineral water and soft drinks fell 0.4%, and coffee, tea and cocoa rose 1.4%.
Read at London Business News | Londonlovesbusiness.com
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