Inflation

Foodservice price inflation dips below 10% for the first time in two years

29-Apr-2024 By James McAllister

Inflation as measured by the CGA Prestige Foodservice Price Index (FPI) fell below 10% in March for the first time in two years.

Hospitality food price inflation remains 'more than double the rate' of retail

03-Apr-2024 By James McAllister

Hospitality food price inflation remains more than double the rate seen in the retail sector despite steady easing over the last year, the latest CGA Prestige Foodservice Price Index reveals.

Challenges remain despite continued easing of foodservice price inflation

04-Mar-2024 By James McAllister

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%.

Prices rise by 7.1% in hospitality to offset soaring costs

05-Feb-2024 By Restaurant

Hospitality businesses have raised their prices by an average of 7.1% to offset rising costs, according to new data.

800 licensed premises lost in final quarter of 2023

01-Feb-2024 By James McAllister

Britain’s number of licensed premises dropped by 0.8% in the fourth quarter of 2023, the latest Hospitality Market Monitor from CGA by NIQ and AlixPartners reveals.

New border checks ‘threaten resurgence’ in foodservice price inflation

25-Jan-2024 By James McAllister

Apprehension is growing about a resurgence in foodservice price inflation as a result of new border checks, the latest CGA Prestige Foodservice Price Index reports.

Business set to ‘feel the heat’ on food prices ‘for some time to come’

09-Jan-2024 By James McAllister

Analysts have warned that businesses across the food supply chain will be ‘feeling the heat on prices for some time to come’ as inflation continues to fall slowly.

Michelin-starred Aberystwyth restaurant SY23 to close

18-Dec-2023 By James McAllister

Michelin-starred Aberystwyth restaurant SY23 is to close its doors at the end of the year, with its owners blaming 'the unprecedented challenges of the current financial climate'.

Debt pile grows for top restaurant groups leaving some 'in a precarious position'

04-Dec-2023 By James McAllister

The collective debt burden of the UK’s top restaurant groups has broken through the £3bn mark for the first time, new research by UHY Hacker Young shows.

Foodservice price inflation falls to lowest level since August 2022

30-Nov-2023 By James McAllister

Inflation as measured by the CGA Prestige Foodservice Price Index (FPI) fell for the fifth consecutive month in October, dropping to its lowest level since August 2022.

'Macro pressures' force Neat Burger to halve its UK estate

22-Nov-2023 By James McAllister

Neat Burger, the vegan fast food concept backed by Lewis Hamilton and Leonardo DiCaprio, is to close half of its UK estate amid large-scale financial pressures.

Confidence in hospitality sector climbs again despite cost challenges and rates threat

22-Nov-2023 By James McAllister

The optimism of Britain’s hospitality leaders has risen for the fourth quarter in a row, but they remain concerned about inflation in key inputs, and the challenge of business rates.

UK restaurant market growth remains behind pubs and fast food as outlet decline hinders recovery

15-Nov-2023 By James McAllister

The UK restaurant market is forecast to grow by 5.2% to a value of £18.7bn in 2023, the latest Lumina Intelligence Restaurant Market Report shows.

Rising costs and reduced footfall force Liverpool restaurant Lu Ban to close

14-Nov-2023 By James McAllister

Liverpool restaurant Lu Ban has permanently closed its doors after four years of trading, with a combination of rising costs and reduced footfall cited as being behind the decision.

Trade bodies push for further business rates support ahead of Autumn Statement

06-Nov-2023 By James McAllister

Hospitality trade bodies have reasserted calls for the Government to extend business rates support, after new data showed inaction would force operators to reduce investment and cut staffing levels.

Friday five: the week's top hospitality stories

20-Oct-2023 By Restaurant

A new restaurant from Dipna Anand, the sale of D&D London, and a row over tips at Miller & Carter are among the week's most-read stories.

Inflation to drop £864m business rates 'bombshell' on hospitality

18-Oct-2023 By Restaurant

The planned inflation-linked rise in business rates in April will cost hospitality businesses an additional £234m it has been revealed.

‘Challenging year’ leads to erosion of profit margin for Rick Stein’s group

17-Oct-2023 By James McAllister

Rick Stein’s restaurant group has blamed the rapid increase in supply chain costs, particularly the rise in fish and oil prices, for contributing to an erosion of its profit margin.

Fall in food and drink prices not expected until ‘at least early 2025’

03-Oct-2023 By James McAllister

A fall in food and drink prices, otherwise known as deflation, is unlikely until ‘at least early 2025’, according to analysis from the latest CGA Prestige Foodservice Price Index.

‘Challenging trading environment’ hits profits at Comptoir Group

22-Sep-2023 By James McAllister

Comptoir Group has seen a decrease in profits amid a ‘challenging trading environment’ compounded by macroeconomic pressures.

Consumer confidence on the rise

22-Sep-2023 By Restaurant

Consumer confidence has risen to its highest level since January last year, suggesting that the economy is on the road to recovery.

Hospitality inflation rate drops to 8.3%

20-Sep-2023 By Hannah Currie

Restaurant and hotels provided a large downward contribution to consumer price inflation last month, where the annual rate fell to 8.3% in August compared to 9.6% in July.

UKHospitality: ‘It's near impossible for venues to keep up with the cost of doing business’

08-Sep-2023 By James McAllister

UKHospitality has warned that the rate of inflation means it’s 'near impossible' for operators to keep up with the cost of doing business.

Food inflation in hospitality slows slightly as retail prices begin to fall

07-Sep-2023 By James McAllister

Inflation as measured by the CGA Prestige Foodservice Price Index fell marginally to 21.7% year-on-year in July.

Restaurant spending declines in August

05-Sep-2023 By Finn Scott-Delany

Restaurants saw a further decline in spending in August (-5.8%) from July (-2.5%), according to the latest figures from Barclaycard.

Hospitality inflation rate rises

16-Aug-2023 By Restaurant

The inflation rate for restaurants and hotels rose slightly from 9.5% in June to 9.6% this month despite an overall drop in inflation, according to the Office for National Statistics (ONS).

Chain restaurants drive menu price increases

07-Aug-2023 By Restaurant

Food menu inflation has increased by 14.4% year-on-year, according to Lumina Intelligence’s latest Menu Tracker Quarterly Report of Q2 2023, driven primarily by chain restaurants and QSR operators.

Hospitality industry accounts for 10% of UK administrations in 2023

04-Aug-2023 By James McAllister

The hospitality industry accounted for 10% of administrations in the first six months of 2023 – the fourth highest sector in the UK – according to analysis by Shakespeare Martineau.

Investment demand in hospitality and leisure space remains low

03-Aug-2023 By Shwetali Sapte

Investment demand is currently at just 13.9% across the hospitality and leisure space, dropping as low as 7.5% in the North East, according to analysis by property finance specialist Sirius.

Food prices in hospitality surge again

31-Jul-2023 By James McAllister

Inflation as measured by the CGA Prestige Foodservice Price Index rose again to 22.6% year-on-year in June — close to the record high of 22.9% in December 2022.

‘Another tough quarter’ for hospitality as more than 1,100 outlets lost in Q2

26-Jul-2023 By James McAllister

Hospitality recorded 1,139 net closures in the second quarter of this year, equivalent to 12.5 outlets shutting each day, according to the new Hospitality Market Monitor.

Pub growth comes ‘at the expense of restaurants’ as sunshine warms up managed groups' sales

26-Jul-2023 By James McAllister

Britain’s managed restaurant, pub and bar groups recorded a ninth successive month of year-on-year sales growth in June 2023, the new Coffer CGA Business Tracker shows.

No-shows causing a fifth of restaurant owners to ‘consider closing for good’

20-Jul-2023 By James McAllister

The impact of no-shows and last-minute cancellations is causing almost a fifth of restaurant owners to consider closing for good, according to new data from Barclaycard Payments.

Falling petrol and food prices lead to a drop in inflation

19-Jul-2023 By Restaurant

Inflation has fallen to its lowest level for 15 months, driven by a drop in food and fuel prices.

Business confidence remains ‘well below’ pre-Covid levels as soaring prices pile pressure on hospitality

19-Jul-2023 By James McAllister

Hospitality’s post-Covid recovery continues to be threatened by rising prices in multiple key areas, leaders have warned in the latest Business Confidence Survey from CGA by NIQ and Fourth.

Eating out market remains stagnant

17-Jul-2023 By Shwetali Sapte

The eating out market remains stagnant year-on-year, with weekly eating out frequency and penetration remaining unchanged due to the cost of living crisis, according to Lumina Intelligence.

UKH pushes Government on energy bills support

14-Jul-2023 By Hannah Currie

UKHospitality CEO Kate Nicholls has called on the Government to extend new financial help to businesses by amending the terms of emergency loan schemes set up during the pandemic.

Foodservice prices rise by more than a third in two years

28-Jun-2023 By James McAllister

Year-on-year inflation as measured by the CGA Prestige Foodservice Price Index increased again to 21.6% in May — only just below the record high of 22.9% of December 2022.

Hospitality remains stretched by rising prices

26-Jun-2023 By Shwetali Sapte

Supply chain fragility continues to hit hospitality, with the cost of goods sold at 27.3% in February 2023, an increase of more than five percentage point in less than two years, according to new data from Fourth.

Muted sales rise for restaurants in May as pubs benefit from bumper bank holidays

21-Jun-2023 By James McAllister

Britain’s leading managed restaurant, pub and bar groups achieved an eighth consecutive month of year-on-year sales growth in May 2023, the latest Coffer CGA Business Tracker shows.

Strong trading in hospitality helps UK economy return to slender growth

14-Jun-2023 By James McAllister

The UK economy grew by 0.2% in April after contracting 0.3% in March, according to the Office for National Statistics (ONS), helped by strong trading in hospitality.

Foodservice price inflation jumps back above 20% in April

14-Jun-2023 By James McAllister

Year-on-year inflation in foodservice prices rose unexpectedly to 21.4% in April 2023, according to the new edition of the CGA Prestige Foodservice Price Index.

Consumer appetite for hospitality holds steady amid cost of living crisis

07-Jun-2023 By James McAllister

New research from CGA by NIQ reveals consumer demand for Britain’s pubs, bars and restaurants has held steady during months of rising household bills.

Business confidence rising in hospitality despite inflationary pressures

05-Jun-2023 By James McAllister

Optimism among leaders of Britain’s top hospitality groups has risen since the start of 2023, according to the latest Business Confidence Survey from CGA by NIQ and Fourth.

Food and drink inflation remains ‘stubbornly high’ despite drop in overall rate

24-May-2023 By James McAllister

Food and beverage prices continued to rise last month despite a ‘substantial’ drop in the overall rate in inflation, new figures from the Office for National Statistics show.

Hospitality facing ‘chronic’ inflationary pressure as growth stalls

24-May-2023 By James McAllister

Hospitality turnover in the last year was down 14.7% compared to pre-pandemic levels when accounting for inflation, according to new figures provided by UKHospitality.

Vinoteca blames energy prices and train strikes as it shutters Birmingham site

19-May-2023 By James McAllister

Wine bar and restaurant group Vinoteca is to close its huge site within Birmingham’s Paradise development after less than a year, blaming rising energy prices and ongoing train strikes.

Hospitality faces ‘record insolvencies’ as businesses continue to suffer economic pain

12-May-2023 By James McAllister

Company insolvencies in hospitality could hit record highs this year, a legal expert has warned, as business continue to be battered by a ‘perfect storm’ of cost pressures.

Foodservice price inflation falls below 20% for the first time in five months

12-May-2023 By James McAllister

The food and drink sector received small but welcome relief on soaring prices as inflation dropped to 18.9% in March 2023, the latest CGA Prestige Foodservice Price Index reveals.

Rising cost pressures force Cardiff restaurant Bully’s to close after almost 30 years

09-May-2023 By James McAllister

Family-run Cardiff restaurant Bully’s has permanently closed its doors after almost 30 years as a result of rising cost pressures.