Business

Foodservice price inflation in the UK rose to 21.6% in May, just below the record high of 22.9% seen in December 2022, according to the foodservice price inflation index from CGA. This number is slightly higher than in April where foodservice price inflation was at 21.4%. At the same point…

The hospitality industry in London has shown signs of recovery in the first quarter of the year, with a net decline of only 1% of licensed premises, according to new data from CGA strategy. This follows a net decline of just 0.2% in Q4 2022, a massive improvement from the…

The Bank of England (BoE) has raised interest rates for the 13th consecutive time to 5%, the highest level in 15 years, after it was revealed that inflation remained at 8.7% in May. The BoE’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the rate by…

Foodservice price inflation has unexpectedly risen back above 20% to 21.4% in April, according to data from CGA. Price increases had begun to slow in Q1 this year, and inflation dipped below 20% in March for the first time since mid-2022. However, the rebound in April underlines the severe cost…

Over half (54%) of business leaders at Britain’s top hospitality groups are optimistic about the next 12 months according to a survey from CGA and Fourth. This is an increase of 7 percentage points from the last survey in January and more than double the 22% of people who feel…

Upcoming rail strikes in May and June will cost the hospitality industry £132m according to UK Hospitality. Members of the ASLEF union are set to walk out on 31 May and 3 June after the union rejected what it called a ‘risible’ pay offer of 4% per year for two…

Turnover for hospitality businesses was down 14.7% in the last year compared with pre-pandemic levels when accounting for inflation. This is according to the UK Hospitality Quarterly Tracker which is created in association with CGA Strategy. The tracker shows that the revenue generated in the last 12 months is 4.1%…

Restaurant group MJMK has reached its £1m crowdfunding target within the first hours post launch, with the current total close to £1.2m. The campaign is aimed at raising funds to open a new concept with celebrated chef-partner Santiago Lastra (of KOL) and accelerate the expansion of the popular Casa do…

The Compass Group has announced that its profits have surpassed £1bn for the six months ended 31 March 2023. This number is up from £744m in the same period last year which is an increase of 41.1%. The company also posted revenues of £15.8bn, an increase of 24.7% on the…

CGA Strategy’s Drinks Recovery Tracker has revealed a “reasonable outlook” for Q1 with wine sales up but spirit sales down. It revealed wine sales have seen growth every week in 2023 as older consumers returned to pubs, bars and restaurants after the pandemic. Meanwhile, beer sales were in year-on-year growth…