The food and drink sector received small but welcome relief on soaring prices as inflation dropped to 18.9% in March 2023, the CGA Prestige Foodservice Price Index reveals.

Year-on-year food inflation fell slightly to 20.6% in February 2023, the new CGA Prestige Foodservice Price Index reveals.

Foodservice price inflation fell slightly to 22.0% in January, the new edition of the CGA Prestige Foodservice Price Index (FPI) reveals. While only a small change from the Index’s record high of 22.9% in December, it marks the first drop in inflation since September 2021.

The CGA Prestige Foodservice Price Index (FPI) ended 2022 at record highs, with the Food basket nearly one quarter higher than December 2021. The FPI full basket which includes beverages ended slightly below this level at 22.9%.

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%.