Inflation

'More unwelcome news for hospitality' as inflation hits new 40-year high

17-Aug-2022 By James McAllister

UK inflation hit a new 40-year high of 10.1% in July, official figures show, with industry voices demanding the Government finally introduce a reduction on VAT for the sector.

Menu prices set to rise a further 6% in next 12 months

17-Aug-2022 By James McAllister

Hospitality leaders plan to raise menu prices by a further 6% in the next 12 months, CGA and Fourth’s new Business Confidence Survey reveals.

Rapidly escalating energy bills 'killing pubs', warns BII

11-Aug-2022 By James McAllister

The British Institute of Innkeeping (BII) has warned that spiralling energy costs are 'killing our nations’ pub' and called on the Government to provide urgent, essential support to businesses.

Operators 'in deeper trouble now than during pandemic' as utility bills triple

09-Aug-2022 By James McAllister

Pubs, restaurants and bars are seeing outgoings triple, and are in deeper trouble now than during the pandemic, one of the UK's Night Time Economy Advisors has said

Drought fears cause concern as food prices surge further

08-Aug-2022 By James McAllister

Concerns are growing about drought conditions in many parts of the UK, the latest CGA Prestige Foodservice Index reveals, amid a fifth consecutive month of double-digit percentage inflation.

Further business failures 'inevitable' without Government support as interest rates rise

05-Aug-2022 By James McAllister

Trade body UKHospitality says further business failures are 'inevitable' without additional Government support amid warnings of a looming recession and energy prices rising further.

Hospitality leaders' confidence falls as cost-of-living crisis starts to bite

05-Aug-2022 By James McAllister

The confidence of restaurant, pub and bar leaders tumbled over the second quarter of 2022 after costs soared for both businesses and consumers.

Thousands of businesses ‘could be forced to close’ unless Government intervenes on spiralling utility bills

27-Jul-2022 By James McAllister

Thousands of hospitality businesses ‘could be forced to close’ over the next few years unless the Government intervenes to help with spiralling utility bills, a procurement firm has warned.

Hospitality operators ‘labouring under extreme pressure’ as costs soar

27-Jul-2022 By James McAllister

Hospitality operators are ‘labouring under extreme pressure’ with costs soaring to a new record high, according to the latest UKHospitality Christie & Co Benchmarking Report.

Record inflation sees McDonald’s increase price of key menu items

27-Jul-2022 By Joe Lutrario

The price of a McDonald’s cheeseburger is to increase for the first time in 14 years - from 99p to £1.19 - as the fast food giant is forced to pass on rapidly rising costs to its customers.

Branded restaurant menu inflation 'outpacing rest of the market'

22-Jul-2022 By James McAllister

Menu inflation in the branded restaurant segment is at least double that of other areas of the market, according to data from Lumina Intelligence’s Menu Tracker.

Inflation hits 40-year high of 9.4%

20-Jul-2022 By Joe Lutrario

Inflation hit another new 40-year high in June with food and energy prices continuing to soar as the UK’s cost of living crisis continues to deepen.

Food costs rocket by 'up to 40%' for hospitality businesses as supply chain fragility hits hard

18-Jul-2022 By James McAllister

Spiralling costs and major disruption to the supply chain are having a drastic impact on hospitality operators’ food and drink bills and profits, according to latest data from Fourth.

Foodservice inflation 'may yet rise further' as it hits double digits for fourth successive month

15-Jul-2022 By James McAllister

Inflation in the foodservice sector topped 10% for the fourth successive month in May and could rise further, the latest CGA by NielsenIQ and Prestige Foodservice Price Index warns.

Just Eat launches £1m support fund to help small businesses facing inflationary pressures

14-Jul-2022 By James McAllister

Just Eat has announced the launch of a £1m financial support package for its small, independent restaurant partners, designed to help businesses as they navigate rising inflation.

Majority of hospitality operators facing higher energy costs as sector battles against 'onslaught of challenges'

13-Jul-2022 By James McAllister

More than 90% of hospitality operators are reporting higher energy costs as the sector battles to survive an 'onslaught of challenges', according to the latest Future Shock report.

Spending remains flat as cost of living continues to bite

08-Jul-2022 By James McAllister

Average hospitality spend increased just 2% in the 12 weeks ending 12 June despite opportunities for growth including the Jubilee weekend, Lumina Intelligence reveals.

Pub numbers plunge to record low

04-Jul-2022 By James McAllister

The number of English and Welsh pubs fell below 40,000 for the first time during the first half of 2022, research by the real estate adviser Altus Group reveals.

Rising cost of living forcing younger people to eat out less

01-Jul-2022 By Restaurant

The rising cost of living is starting to bite among 18-34 year-olds with the demographic eating out less frequently in restaurants, new data shows.

Industry criticises Government price cut campaign

30-Jun-2022 By Shwetali Sapte

A Government campaign asking businesses to lower prices due to the cost of living crisis has been met with criticism from across the hospitality industry.

Hospitality faces 'critical situation' as only one in three businesses reported as profitable

28-Jun-2022 By James McAllister

Hospitality businesses across the UK are facing a 'critical situation' with only 37% currently turning a profit, a new study has warned.

'Rising costs' force permanent closure of Kensington restaurant Pino

15-Jun-2022 By James McAllister

Pino, the sister restaurant to the highly-regarded Il Portico in London's Kensington, has permanently shut its doors less than a year after opening.

UKHospitality: Government needs to help sector attract investment

08-Jun-2022 By Shwetali Sapte

A lack of a coherent Government strategy to tackle the cost of living crisis is negatively impacting investment in the sector, UKHospitality CEO Kate Nicholls has said.

More than 10,000 hospitality businesses at risk of closure

06-Jun-2022 By James McAllister

More than 10,000 pubs and restaurants are at risk of closure due to 'perfect storm' of inflation and surging energy costs, UKHospitality chief executive Kate Nicholls has warned.

Sector pleads with Chancellor to 'act now' and alleviate financial pressures

26-May-2022 By James McAllister

Chancellor Rishi Sunak has been accused of being 'out of touch with the reality of cost inflation' after failing to offer additional financial support for businesses in today's Commons statement.

A third of people cutting back on eating out and takeaways as cost of living soars

24-May-2022 By Restaurant

More than a third of people have been forced to reduce or stop spending on eating out and takeaways over the past six months in the face of rising costs and inflation, according to a YouGov poll.

Warnings of bottled beer shortage amid rising production costs

24-May-2022 By James McAllister

A Scotland-based wholesaler has warned the UK could see bottled beer stocks plummet as a result of soaring production costs.

Operators face 'significant challenge managing costs and attracting footfall' as menu sizes and prices rise

20-May-2022 By James McAllister

Menus across the UK eating and drinking out market grew in size between February and April 2022, according to data from Lumina Intelligence’s Menu Tracker, with average prices also increasing.

Hospitality braces for weaker consumer demand

20-May-2022 By James McAllister

Falling consumer confidence and slowing demand growth has started to weigh on output across the hospitality and tourism sector, according to the first Lloyds Bank UK Sector Tracker.

Calls for VAT reduction on business energy bills as inflation hits 40-year high

19-May-2022 By James McAllister

Sacha Lord, Greater Manchester's night time economy adviser, has called on the Government to implement a temporary reduction in VAT on business energy bills in the face of rocketing inflation.

Bank of England governor warns of 'apocalyptic' food price risis

17-May-2022 By Restaurant

Britain faces 'apocalyptic' rises in food prices as households are hit by a 'very real income shock', the governor of the Bank of England has warned.

Rising cost of living starts to hit hospitality sector

10-May-2022 By Restaurant

The rising cost of living is starting to impact on the hospitality sector with a fall in spending in April, new data shows.

Foodservice price inflation hits another record high as supply issues mount

10-May-2022 By James McAllister

Year-on-year inflation in the foodservice sector hit 13.6% in March 2022, the latest CGA Prestige Foodservice Price Index shows.

Hospitality businesses face 'existential threat' as foodservice price inflation hits double digits

12-Apr-2022 By James McAllister

Year-on-year inflation in the foodservice sector hit 10.2% in February 2022, the latest edition of the Foodservice Price Index from CGA and Prestige Purchasing reveals.

Surge in energy costs forcing businesses to raise prices and cut hours

22-Mar-2022 By Restaurant

Soaring energy costs are forcing some hospitality businesses to raise their prices and cut trading hours, according to a new survey by four leading trade bodies.

Food and drink prices set to rise as a result of war in Ukraine

07-Mar-2022 By Restaurant

The price of food and drink items including bread, beer, pasta, and pork are likely to rise as a result of the ongoing war in Ukraine.

Food and drink price inflation surges to 3.5%

21-Feb-2022 By James McAllister

Year-on-year foodservice inflation reached 3.5% in December 2021 with further prices rises forecast over the next three to six months, a new report from CGA and Prestige Purchasing shows.

'Tentative sales growth' in November below inflation estimates

10-Dec-2021 By James McAllister

Britain’s managed pub, bar and restaurant groups recorded 'tentative sales growth' in November, the latest Coffer CGA Business Tracker reveals, but the rate fell below current inflation estimates.

Foodservice prices 'under severe pressure' as sharp cost increases predicted over winter

17-Nov-2021 By James McAllister

Rising demand, product shortages and distribution issues are combining to put foodservice prices 'under severe pressure' as the run-up to Christmas begins, the latest CGA Prestige Foodservice Price Index reveals.

Kate Nicholls sounds warning over cost price inflation

10-Nov-2021 By James McAllister

MPs have been told some hospitality businesses expect to raise prices three times before April next year, amid significant cost price inflation caused by ongoing supply chain and recruitment issues.

Restaurant spend declines amid inflation concerns

09-Nov-2021 By James McAllister

Restaurant spending dropped by nearly 10% in October amid consumer concerns about inflation and rising household bills, the latest data from Barclaycard shows.

Rising inflation 'has potential to seriously derail sector’s recovery'

21-Oct-2021 By James McAllister

UKHospitality has warned that rising inflation has the potential to 'seriously derail' the sector’s recovery.

More than three quarters of pubs planning to push up prices

19-Oct-2021 By Nikkie Thatcher

Some 81% of pub operators are increasing prices in their businesses this year, a poll conducted by The Morning Advertiser - BigHospitality's sister site - has found.

Eat Out to Help Out propels inflation to nine-year high

15-Sep-2021 By James McAllister

Inflation has soared to its highest level in nine years, with the Office for National Statistics (ONS) claiming this is down to last year's Eat Out to Help Out scheme.

Falling labour and rising ingredient costs drive rethinks on supply

14-Sep-2021 By James McAllister

Chronic labour shortages, insufficient manufactured stocks and post-Brexit challenges on imports are combining to create disruption and inflation across the foodservice sector, the latest CGA Prestige Foodservice Price Index reveals.

Inflation steady as disruptions to food and drink supply hit reopening

18-Aug-2021 By James McAllister

Food and drink supply markets have been hit by widespread distribution problems and a spike in demand following the return of out-of-home eating and drinking, according to CGA.

Food supply prices start to firm as hospitality reopens

27-May-2021 By James McAllister

Inflation is starting to return to food and non-alcoholic drinks after months of falling prices, the CGA Prestige Foodservice Price Index reveals.

EOHO pushes inflation to five-year low

16-Sep-2020 By James McAllister

The effect of the Government’s Eat Out to Help Out (EOHO) scheme has led to a sharp fall in inflation across the UK.

Industry costs rise to 12-year high

05-Nov-2018 By Stefan Chomka

Operating costs faced in the hospitality sector have risen to a 12-year high, according to figures in a new report.

Fish, bread and dairy price inflation falls

07-Mar-2018 By Sophie Witts

Foodservice price inflation fell to 2.5% in January 2018 - the lowest figure since early last year - according to the CGA Prestige Foodservice Price Index.