The CGA Prestige Foodservice Price Index for April shows a 2.3% increase year-on-year and 0.6% month-on-month in food and beverage costs, indicating persistent inflation in the hospitality sector. Factors such as global commodity market volatility, supply chain disruptions, energy costs, and adverse weather are the primary causes of these price hikes. Notably, meat and poultry prices are rising due to strong demand and production challenges, while oils and soft drinks also exhibit significant inflation. Additionally, the driest spring in a century may affect vegetable yields, hinting at future price increases.
"The April data underscores the complex landscape our hospitality clients are navigating. While we've seen some seasonal variations, the underlying inflationary drivers remain firmly in place."
"The price of the Index's overall basket of goods rose by 2.3% year-on-year and by 0.6% month-on-month, highlighting the ongoing challenges faced by businesses in managing their procurement costs."
Collection
[
|
...
]