Foodservice Price Index February 2021
CGA Prestige Foodservice Price Index forecasts an end to recent declines in prices, with Brexit and COVID-19 set to remain key factors.
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CGA Prestige Foodservice Price Index forecasts an end to recent declines in prices, with Brexit and COVID-19 set to remain key factors.
The Foodservice Price Index increased for the second month running, rising from 117.5pts in December 2020 to 118.0pts in January.
The COVID-19 disruption once again affected the Index in May as fluctuations in demand and stock, as well as low availability of labour and logistics continue to put pressure on categories.
While COVID-19 continues to affect the markets and food supply around the world, both month-on-month and year-on-year inflation has remained relatively low in June.
The implications for many Index categories which have been disrupted by the pandemic have yet to appear, but it is likely they will start to do so in the months ahead.
The full implications of both the effects of COVID-19 on global supply and the gradual reopening of foodservice businesses have yet to be seen but we expect the index to begin to adjust over the months ahead.
We have seen price inflation drop significantly to just 0.7% in 2020 (year to date), with the month of March 2020 reporting overall year on year deflation of -2.9% for the first time since FPI records began in 2015.
This month saw the Foodservice Price Index continue to fall. Year-on-year FPI deflation for November -1.0%, a further 3 index point fall from October.
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