"Food and drink prices in the hospitality sector rose by 1.1% in December, according to the latest edition of the Foodservice Price Index from Prestige Purchasing and NIQ, powered by CGA intelligence. This sharp upward month-on-month movement marks a significant acceleration in inflation to close the year. It was driven by high demand for many items in the run-up to Christmas, as well as persistent supply-side constraints."
"The Index recorded steep increases in prices in several high-volume categories. They included milk, cheese & eggs, which recorded the highest rise at +1.9%, as domestic price pressures intensified despite continued softening in global dairy commodity markets. Disruptions related to avian flu reinforced volatility in egg supply chains, compounding costs during a peak usage period. Fruit prices rose nearly as fast at +1.8% in December, as markets shifted to higher-cost glasshouse production for soft fruits and yields of Spanish citrus were significantly reduced."
"Inflationary momentum also remained critically high in coffee, tea & cocoa. Coffee markets continued to trade near multi-year peaks due to adverse weather in Brazil and Vietnam, while cocoa prices were close to record levels, driven by weak West African harvests and tight inventories. In meat & poultry, the centrepiece category of the festive period, inflation accelerated to +1.5%, as strong seasonal demand collided with structural challenges."
Food and drink prices in the hospitality sector increased by 1.1% in December, reflecting a sharp month-on-month acceleration in inflation. High festive-season demand combined with persistent supply-side constraints pushed up costs across multiple categories. Milk, cheese & eggs rose 1.9% amid domestic pressure and avian flu disruptions to egg supply. Fruit prices climbed 1.8% due to costlier glasshouse production and reduced Spanish citrus yields. Coffee, tea and cocoa markets remained tight with coffee near multi-year peaks and cocoa close to record levels. Meat & poultry inflation accelerated to 1.5%, while oils, fats and sugar-related categories also saw price increases as energy, labour and logistics costs limited price relief.
Read at London Business News | Londonlovesbusiness.com
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