The CGA Prestige Foodservice Price Index has reported a slight rise in inflation within the hospitality sector, up to 2.0% in March. Key categories such as oils & fats have seen significant increases, including a 5.8% rise year-on-year. This inflationary trend is accompanied by a complex market situation, particularly in produce, where factors like severe weather are disrupting typical lower price trends. The dairy sector, while currently facing production challenges, may see improvement soon, suggesting future pricing could stabilize despite ongoing pressures in meat and poultry markets.
The latest CGA Prestige Foodservice Price Index (FPI) shows a slight rise in inflation in the hospitality sector, indicating a complex situation in food pricing.
Oils & fats lead inflation with a +5.8% increase, as other categories like sugar and chocolate also see year-on-year rises, signaling persistent inflation pressures.
Despite a trend of lower inflation rates, market supply shocks could impact future pricing, particularly in the produce sector where prices have surprisingly increased.
The dairy sector faces challenges from adverse weather affecting milk quality; however, a more optimistic outlook is suggested for the second quarter with improved milk volumes.
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