Antonia Harvey’s Post

It's great to see that not only is inflation levelling out at its target level for consumers, but also that operators are starting to see the cost of raw ingredients head south, too. Our latest Foodservice Price Index (FPI) report, published by CGA by NIQ and Prestige Purchasing shows YoY FPI fell to 4.6% in May; it's lowest figure in 28 months! This is positive news for all involved, with benefits to operators and consumers, as Reuben Pullan sums up in the article - "After several years of relentlessly high inflation, these figures show some very welcome respite. While some rates remain higher than businesses would like, the general stability makes it much easier to plan for the future. In turn it should also reassure consumers, who have seen food and drink menu prices rise sharply but will hopefully become more confident with their spending as we move towards the second half of the year." Follow the link to download the snapshot report, as well as find more details on accessing on-demand access to the full suite of accurate category pricing data.

Year-on-year inflation in the foodservice sector has fallen for 12 months in a row, according to Prestige Purchasing and CGA by NIQ’s latest Foodservice Price Index (FPI) report. By Clare Nicholls

Foodservice inflation continues to ease but underlying pressures remain Year-on-year food inflation in the foodservice sector continued its downward trend in September, falling to 2.4%, according to the latest Foodservice Price Index (FPI) from Prestige Purchasing and CGA by NIQ. This marks the 15th consecutive month of decline, offering some respite for businesses and consumers alike. However, the report also highlights persistent inflationary pressures, with nine out of 10 categories showing month-on-month price increases. Read more - https://lnkd.in/gx9ngciy #inflation #prices #food #insight #hospitality #hospitalityindustry #fpi

Bringing a 14th straight month of decline, the CGA and Prestige Purchasing Foodservice Price Index reveals that year-on-year inflation in foodservice eased to 2.8% in August 2024. While prices continue to stabilise after a prolonged period of aggressive inflation the report also reveals a 0.5% month-on-month increase in prices across the basket of goods—a third consecutive rise. Find out more and download a snapshot from August's Foodservice Price Index here - https://lnkd.in/dJ_d9xbj #FoodserviceIndustry #InflationTrends #MarketTrends

Food Prices Falling As Foodservice Price Index Hits A 28-Month Low The latest Foodservice Price Index (FPI) report from Prestige Purchasing and CGA reveals more positive trends for the hospitality sector, with inflation dropping again in May 2024. Year-on-year inflation fell to 4.6%, the lowest figure recorded by the Index in 28 months. May also saw month-on-month deflation of -0.4%—only the fourth such decrease in the last 32 months. The figures indicate a sustained return towards pre-pandemic levels of inflation and more closely mirror trends seen for some time in the Consumer Prices Index (CPI). The basket of prices fell month-on-month in six of the Foodservice Price Index’s ten categories. The Oils and Fats category is of particular note, having delivered six consecutive months of year-on-year deflation. After more than a year of double-digit year-on-year inflation in most categories this was reduced to just one in May.. It underscores a significant shift towards price stability across the foodservice sector. Shaun Allen, Prestige Purchasing CEO, said: “This fall of input-inflation is very welcome, as the full basket of CPI has also fallen sharply to 2% year-on-year, and diners will soon come to expect stable pricing again in our restaurants. Buyers should be particularly wary of proposed supplier increases in this period of sharply falling inflation.” Reuben Pullan, Senior Insight Consultant at CGA by NIQ, said: “After several years of relentlessly high inflation, these figures show some very welcome respite. While some rates remain higher than businesses would like, the general stability makes it much easier to plan for the future. In turn it should also reassure consumers, who have seen food and drink menu prices rise sharply but will hopefully become more confident with their spending as we move towards the second half of the year.” Read More:

The exclusive  Foodservice Price Index  is jointly produced by Prestige Purchasing and CGA by NIQ, using foodservice data drawn from 7.8m transactions per month In the report, you can find that while inflation is slowing down, prices still remain historically high. View the report in the article, and reach out to see how NIQ can support challenging market conditions. #NIQ #NIQInsights

Foodservice Inflation Slowing But Challenges Lie Ahead The CGA Prestige Foodservice Price Index recorded year-on-year inflation of 12.6% in January—a drop of 1.2 percentage points from December's rate of 13.8%. It is the seventh successive month-on-month fall in inflation as markets adjust to falling commodity pricing. Foodservice Price Index inflation has now moved down by an average of 1.4% a month since June 2023, with expectations of further falls ahead. However, year-on-year inflation remains high in most categories, with only the Dairy and Oils & Fats segments below double digits. There is some relief month-on-month however, with four categories falling in price and only two reporting a rise of more than 1% versus December 2023. While continued falls in inflation are a positive sign for the industry, concerns remain for pricing over the coming months as farmer protests on the continent and border checks in the UK threaten to add further cost to supply. The British government’s proposal mandating the labelling of all meat and dairy products for exclusive consumption within the UK, and not for consumption within the EU, has been criticised by industry bodies, as it will result in increased food expenses, negatively impact exports and discourage investments in domestic food manufacturing—all of which are expected to increase food and beverage pricing in the UK. Shaun Allen, Prestige Purchasing CEO, said: “The current falls in inflation are a positive sign for operators; however, it is worth noting that prices are still rising compared to last year, and while inflation is easing, we remain in a period of unprecedented foodservice price increases. It is more pressing than ever for businesses to remain vigilant and assess price changes in their supply chain using good data and market insight.” James Ashurst, client director at CGA by NIQ, said: “While it’s encouraging to see a slowdown, proper respite on foodservice price inflation remains a long way off. Supply issues are causing widespread frustration at a time when commodity prices are relaxing and businesses and consumers should be finding the going a little easier. More government support, including a rethink on import and admin issues, would be welcome.” Read More:

Foodservice price inflation dips below 10% for the first time in two years #foodservice #hospitality #foodmanufacturing #foodindustry #foodbusiness #foodanddrinkproducers #foodanddrinkindustry

Foodservice price inflation dips below 10% for the first time in two years #foodservice #hospitality #foodmanufacturing #foodindustry #foodbusiness #foodanddrinkproducers #foodanddrinkindustry

Foodservice Inflation Eases for the 15th Consecutive Month, but Underlying Pressures Remain The latest Foodservice Price Index (FPI) report from Prestige Purchasing and CGA reveals that year-on-year inflation in the hospitality sector continued its downward trend in September, falling to 2.4%. This marks the 15th consecutive month of decline, offering some respite for businesses and consumers alike. However, the report also highlights persistent inflationary pressures, with nine out of ten categories showing month-on-month price increases. This marks the fourth consecutive month of overall month-on-month inflation according to the index. Despite the encouraging year-on-year trend, challenges remain. The Vegetables category continues to report high inflation, driven in part by ongoing elevated potato prices. Meanwhile, the Oils & Fats category saw the largest month-on-month increase, primarily due to a surge in butter prices. While non-alcoholic beverages continue to be a significant driver of inflation, the Sugar, Jam, Syrups and Chocolate category, along with Vegetables, now show the highest year-on-year increases. This shift underscores the dynamic nature of foodservice inflation and the need for operators to remain vigilant across all categories. Shaun Allen, Prestige Purchasing CEO, commented: “The continued easing of year-on-year inflation is welcome news, but the sustained month-on-month increases across almost all categories highlight the volatility that still exists in the market. Operators need to be proactive and adaptable in their procurement strategies, paying close attention to emerging trends and potential disruptions to ensure they remain competitive.” Reuben Pullan, Senior Insight Consultant at CGA by NIQ, said: “After an ongoing stretch of price rises across the hospitality sector, this continued drop in inflation should bring some relief to hospitality venues and consumers alike. Although some costs are easing, month-on-month fluctuations indicate that both revenue and margins are likely to remain under pressure through the rest of 2024 and into next year.” Read More: