Inflation as measured by the CGA Prestige Foodservice Price Index (FPI) fell again during the month of November to 15.0% – its lowest level since July 2022. But the speed of that fall is much slower the equivalent rise to the 22.9% peak that happened in December last year. On the way up it took just four months to rise from 15% to the peak, on the way down over twice the time period at 11 months.
Meanwhile, levels of supermarket price inflation (measured by CPI) which fell sharply between May and September are beginning to firm again in the run-up to the Christmas period.
In November, FPI saw just two categories (Oils & Fats at 1.4%, and Dairy at 8.8%) performing below 10% year-on-year. This was in stark contrast to Vegetables where inflation remained extremely high at 27.3%.
