CGA Prestige Foodservice Price Index forecasts an end to recent declines in prices, with Brexit and Covid set to remain key factors.
Several months of falling food and non-alcoholic drinks prices are expected to come to an end as the hospitality industry reopens, the latest edition of the Foodservice Price Index from CGA and Prestige Purchasing reveals.
Figures for the February 2021 Index show the total ‘food basket’ price falling by 2.6% on January 2021, though it was up 2.2% on a year-on-year basis. There were notable dips in Dairy and Fish / Seafood prices, caused by Brexit-related falls in export volumes. The speed of resolution on issues including problematic customs processes and an EU ban on imports of certain UK shellfish will be a key factor in reducing supply and price volatility during the rest of 2021.
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