New data from the CGA Prestige Foodservice Price Index shows food and drink inflation for food service businesses reached a record high of 24% in December 2022.
Responding to these figures, UKHospitality Chief Executive Kate Nicholls said:
“The food and drink offering of hospitality businesses is a key part of our offering, meaning this devastating food and drink inflation is inescapable for the sector.
“This simple economic fact underlines the importance of Government investing in and supporting the sector to help keep our prices as low as possible, if they want to achieve their target of halving inflation.
“We recognise that public finances are tight, but an injection of support into hospitality can repay the cost many times over through the additional sales it creates, the growth this generates and the jobs it can offer.”