Foodservice overall price steady in October: report
There was also a pick up in inflation in fruit and fish categories.
Foodservice prices was at its lowest year-on-year in October since 2016 amidst the start of the holiday season, as underscored by the latest Foodservice Price Index.
The joint report from CGA and Prestige Purchasing also noted that the prices are showing “strong signs of stabilisation” as data revealed an inflation of less than 1% in seven of ten categories.
“This should come as some relief to operators, who have been incurring heavy costs and inflation for the majority of the year,” Prestige Purchasing COO Phil McGuinness said.
“If businesses can secure greater clarity around Brexit, a strengthening of the pound to reduce import costs, and an easing of some of the global supply pressures affecting prices, they can look forward to planning their buying strategies with a little more confidence in 2020,” CGA client director food and retail Fiona Speakman added.
The report, however, highlighted a pick up in inflation in fruit and fish categories.
Supply and demand pressures, as well as the high global demand for avocados and high quality ready-to-eat crops have contributed in overall fruit price inflation at 14.9%.
Meanwhile, exchange rates pressure accelerated fish price inflation as 70% of the UK’s fish are imported. Demand for salmon has increased for the festive season as Scottish salmon catches declined due to cold and turbulent weather.
