Year-on-year food inflation fell slightly to 20.6% in February 2023, the new CGA Prestige Foodservice Price Index reveals.
The figure is below the record high of 22.9% in December 2022, and there is now clear evidence of price increases beginning to slow. The full basket of food measured by the Index increased by only 0.7% month-on-month—one third of the average rate recorded in the latter part of 2022.
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