The CGA Prestige Foodservice Price Index continued its strong upward trend during November 2022 to reach record inflation of 21.5%. It marks a tenth consecutive month of double-digit inflation, and the first time in the history of the Index that inflation has exceeded 20%.
All categories of the Index recorded double-digit inflation, and one—Oils & Fats— remained at unprecedented highs reporting 47% year-on-year. There is some evidence to suggest that the heat may be dissipating in this sector, with month-on-month increases moderating from earlier highs. The Vegetables category of the Index rose nearly 4% month-on-month to register year-on-year inflation of 23%.
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