Inflation

Prezzo set to shutter nearly a third of its estate with 810 jobs at risk

24-Apr-2023 By James McAllister

Prezzo has announced the closure of 46 loss-making sites across the country following a strategic review of the business, putting more than 800 staff at risk.

Hospitality 'stuck in a rut' as inflation continues to outpace growth

24-Apr-2023 By James McAllister

Like-for-like sales at Britain’s leading managed restaurant, pub and bar groups in March were 1.4% ahead of last year’s levels, the new Coffer CGA Business Tracker shows.

Foodservice price inflation shows signs of easing but remains above 20%

14-Apr-2023 By James McAllister

Year-on-year food inflation fell slightly to 20.6% in February 2023, the new CGA Prestige Foodservice Price Index reveals.

Hospitality hits back at Bank of England suggestion businesses shouldn't raise prices

27-Mar-2023 By James McAllister

UKHospitality has hit out at the suggestion from Bank of England Governor Andrew Bailey that businesses should not raise prices above the rate of inflation.

Price rises in restaurants and pubs push up UK inflation

22-Mar-2023 By James McAllister

The rate of inflation jumped unexpectedly in February, driven primarily by rising alcohol prices in pubs and restaurants following discounting in January.

UKHospitality: 'Stark year ahead without Government intervention'

23-Feb-2023 By James McAllister

UKHospitality has warned that the sector faces a 'stark year ahead' with a third of businesses still 'at risk of failure' unless the Government intervenes to alleviate rising cost pressures.

Foodservice price inflation in first fall since September 2021

23-Feb-2023 By James McAllister

Foodservice price inflation fell slightly to 22.0% in January, the new edition of the CGA Prestige Foodservice Price Index (FPI) reveals.

'Significant turning point' as hospitality sales growth outpaces inflation in January

22-Feb-2023 By James McAllister

Britain’s leading managed pub, bar and restaurant groups achieved like-for-like sales growth of 10.9% in January 2023, the new edition of the Coffer CGA Business Tracker reveals.

Expectations of weaker inflation push up output growth forecasts across hospitality

17-Feb-2023 By James McAllister

Output growth forecasts across hospitality rose in January amid expectations of weaker inflation over the next 12 months, new data from the Lloyds Bank UK Sector Tracker shows.

Hospitality energy bills to almost double once support falls away

31-Jan-2023 By James McAllister

Businesses expect a further rise of 82% in their energy bills when the Government’s support is significantly reduced in April, a new hospitality sector survey reveals.

Scottish hospitality pleads for more support amid ‘tidal wave of economic challenges’

31-Jan-2023 By James McAllister

Hospitality representatives in Scotland have called on the country's government to provide the sector with more financial support after three quarters of operators warned they may not last the year.

Menu inflation rises to 4.1%

31-Jan-2023 By Shwetali Sapte

The average price of food items has risen across all channels with total food menu inflation at 4.1% between the third and fourth quarter of 2022, according to Lumina Intelligence.

Nearly 20,000 hospitality businesses under 'significant financial distress'

27-Jan-2023 By James McAllister

Nearly 20,000 hospitality businesses are reported as being under 'significant financial distress', according to Begbies Traynor Red Flag Alert report.

Food price inflation hits record high of 24%

25-Jan-2023 By James McAllister

The CGA Prestige Foodservice Price Index (FPI) ended 2022 at record highs, with the food basket nearly one quarter higher than December 2022 at 24%.

Cost pressures force Birmingham's Holy Moly Macaroni to close

24-Jan-2023 By James McAllister

Birmingham-based street food brand Holy Moly Macaroni has been forced to shutter its only restaurant site in Harborne, after rising cost pressures meant it was 'no longer feasible to continue'.

Sacha Lord demands urgent inquiry as 2,000 small businesses fail to receive appropriate energy discounts

23-Jan-2023 By James McAllister

Sacha Lord, the Night Time Economy Adviser for Greater Manchester, has called for an urgent inquiry into evidence of withheld energy support for struggling hospitality businesses.

Independent businesses battered as cost pressures drive hospitality closures above Covid-hit years

20-Jan-2023 By James McAllister

Mounting cost pressures led to a net decline of 1,611 licensed premises in the fourth quarter of 2022, new figures show, with independent businesses bearing the brunt of the pain.

Inflation rate for restaurants and hotels hits 31-year high

18-Jan-2023 By James McAllister

The annual inflation rate for restaurants and hotels hit a 31-year high of 11.4% last month, according to new figures from the Office for National Statistics (ONS).

Operators lean on healthier eating trends to manage inflation

17-Jan-2023 By James McAllister

Operators are capitalising on healthier eating and sustainability food trends to manage costs and inflationary pressures, according to new data from Lumina Intelligence.

Revolution Bars shutters sites on Mondays and Tuesdays to manage energy usage

17-Jan-2023 By James McAllister

Revolution Bars Group is closing a number of its sites on Mondays and Tuesdays through January and into February to help manage its energy usage.

Breweries to benefit from increased bill support as energy and trade intensive industry

10-Jan-2023 By James McAllister

Breweries will benefit from an increased rate of support under the Government's new Energy Bills Discount Scheme having been recognised as an energy and trade intensive industry.

Hospitality faces '£4.5bn bill hike' as Government slashes energy support

10-Jan-2023 By James McAllister

The hospitality sector 'faces a £4.5bn hike in its bills' from April after the Government confirmed it would slash the level of energy support businesses receive.

Chancellor warns energy support ‘unsustainably expensive’

05-Jan-2023 By Finn Scott-Delany

Chancellor Jeremy Hunt has told business leaders the current level of energy support is 'unsustainably expensive' and that the current £18bn scheme was always limited to six months.

Market penetration up but consumers still cutting back

22-Dec-2022 By Georgi Gyton

Eating and drinking out participation increased by +5.8 percentage points (ppts) during the 12 weeks to 27 November 2022, compared to the previous quarter, according to Lumina Intelligence.

Foodservice price inflation hits 21.5%

19-Dec-2022 By James McAllister

The CGA Prestige Foodservice Price Index continued its strong upward trend during November 2022 to reach record inflation of 21.5%.

Harriet Mansell to 'diversify' business with launch of wild food bakery

13-Dec-2022 By James McAllister

Lyme Regis-based chef Harriet Mansell is to overhaul the site currently occupied by her tasting menu restaurant Robin Wylde and launch a bakery within the same space next year.

Consumers to reduce food and drink spend over festive season

23-Nov-2022 By Shwetali Sapte

Nearly half of UK consumers expect to spend less over the festive season, compared to 22% for the same period last year, according to the latest EY Future Consumer Index.

Restaurant insolvencies increase almost 60% in a year

21-Nov-2022 By James McAllister

Restaurant company insolvencies have increased by 59% over the past year, according to figures from international audit, tax and advisory firm Mazars.

Food prices rise by a fifth in just 12 months

17-Nov-2022 By James McAllister

The CGA Prestige Foodservice Price Index (FPI) continued its relentless upward march again during October to hit 19.9% — a ninth consecutive month of double-digit inflation.

Rising inflation continues to wipe out hospitality sales growth

16-Nov-2022 By James McAllister

October sales at Britain’s top managed restaurant, pub and bar groups were 1.5% ahead of the same month last year, the latest edition of the Coffer CGA Business Tracker reveals.

Hospitality sector faces £900m business rates increase

14-Nov-2022 By Restaurant

Hospitality businesses are facing a £900m increase in business rates next April, if current relief ends and rates increase in line with inflation, UKHospitality has warned.

Operators 'mitigating rising costs' through menu management

09-Nov-2022 By James McAllister

Total food menu inflation from June to September was up 0.9%, according to the latest Menu Tracker Report by Lumina Intelligence, well below the consumer price index (CPI).

Campaign launched to drive hospitality bookings in Scotland amid warning businesses are on ‘life support’

08-Nov-2022 By James McAllister

Hospitality leaders in Scotland have backed a campaign to help firms survive the winter, amid warnings the country's restaurants, pubs and bars are on 'life support'.

Hospitality food and drink price inflation edges closer to 20%

08-Nov-2022 By Restaurant

Food and drink price inflation in the hospitality sector hit another record high in September, up more than three percentage points on the previous month.

Confidence in the hospitality sector continues to fall amid rising costs

03-Nov-2022 By Restaurant

Rising costs and economic uncertainty have damaged confidence in the hospitality sector with the majority of businesses taking a pessimistic view of the prospects for the eating and drinking out market in the next 12 months.

'Difficult trading conditions' push Will Devlin to close The Curlew

02-Nov-2022 By James McAllister

Will Devlin has closed his modern-British restaurant The Curlew in Bodiam, East Sussex, with immediate effect, with the chef blaming 'difficult trading conditions' as the reason behind the decision.

Hospitality growth outlook falls to two year low

01-Nov-2022 By James McAllister

The percentage of UK small businesses in the hospitality and leisure sector predicting growth has hit its lowest level in two years, according to Novuna Business Finance.

Chuku's launches 'six week charge' as it fights to avoid closure

28-Oct-2022 By James McAllister

The founders of Nigerian restaurant Chuku’s in London's Tottenham have launched a campaign to take 100 bookings a week for the next six weeks, in a bid to avoid closure.

Larkin Cen's Woky Ko shutters two sites amid 'unviable price pressures'

26-Oct-2022 By James McAllister

Larkin Cen's Bristol-based Woky Ko group has permanently closed its restaurants on Queens Road and at the city's Cargo development, with the chef citing rising price pressures.

English companies face £25bn business rates tax rise

19-Oct-2022 By Restaurant

Businesses in England are facing a £25bn business rates tax hike over the next five years on the back of inflation hitting double digits, it has been forecasted.

'Insane' energy price increases force The Bok Shop to close its Southampton and Eastbourne restaurants

18-Oct-2022 By James McAllister

Brighton-based premium fried chicken brand The Bok Shop say rising costs have forced it to close its restaurants in Southampton and Eastbourne.

Restaurant spend continues to fall as consumers cut down on discretionary purchases

11-Oct-2022 By James McAllister

Restaurant spend fell by 12.2% in September, according to the latest figures from Barclaycard, with further pain expected as consumers cut back on discretionary purchases amid rising living costs.

Hospitality food and drink price inflation reaches 15% for the first time

07-Oct-2022 By Restaurant

Food and drink price inflation in hospitality rose to 15% in August, the first time it has done so in the history of the CGA Prestige Foodservice Price Index.

Hospitality demands 'urgent clarity' on energy support as businesses face 'financial cliff edge'

20-Sep-2022 By James McAllister

Hospitality trade bodies have written a joint letter to the Chancellor ahead this week's planned fiscal statement warning a lack of clarity on energy support could be fatal for businesses.

Government to set out details on business energy support at mini-budget next Friday

16-Sep-2022 By James McAllister

The Government is set to deliver a mini-budget on Friday 23 September, which will include details of Prime Minister Liz Truss's plan to support businesses struggling with soaring energy costs.

Hospitality sector faces 'hundreds of thousands of closures' unless Government acts on energy crisis

08-Sep-2022 By Restaurant

Hospitality leaders are piling pressure on the Government and newly-appointed Prime Minister Liz Truss to act on spiralling energy costs, saying that hundreds of thousands of businesses will close if it doesn’t.

Viable businesses 'face ruin', hospitality bosses warn

06-Sep-2022 By James McAllister

The bosses of KFC, Itsu, Just Eat, Pret a Manger, Pizza Hut and the Kebab Alliance have demanded a rapid VAT cut to protect businesses facing unprecedented short-term headwinds.

Hospitality warns Government 'must act quickly and decisively' as Liz Truss named next UK Prime Minister

05-Sep-2022 By James McAllister

Hospitality trade bodies have warned the new Government 'must act quickly and decisively' to address soaring energy bills, after Liz Truss was named the UK's next Prime Minister.

Night time economy's future 'finely balanced' as operators demand support package

05-Sep-2022 By James McAllister

More than 6,000 night time economy and hospitality businesses have written to their MPs demanding an emergency financial package to support them through the current cost of living crisis.

Hospitality faces 'existential threat' as soaring energy bills leave sector facing 'mass business failures'

30-Aug-2022 By James McAllister and Stefan Chomka

The soaring cost of energy threatens to cause 'mass business failures' across the hospitality sector, industry leaders have warned amid desperate calls for the Government to take immediate action.