Food and Drink

High food and drink inflation to extend into 2023 

A new industry report predicts that further rises in inflation are possible in 2022, and that the rate is unlikely to fall below 7% until at least 2023

The high food and drink inflation seen in recent months could extend into 2023, the CGA has warned, in light of ongoing high energy costs and “unstable” global supplies. 

Foodservice prices in April were already 10% higher than in April 2021, the third month of double-digit inflation in a row, according to the latest edition of the Foodservice Price Index from CGA and Prestige Purchasing.

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