Hospitality food and drink prices rise for fifth month in a row as pressures mount: Food and drink prices in the hospitality sector rose by 0.4% in the month to August, the latest Foodservice Price Index from CGA by NIQ and Prestige Purchasing reveals. It represents a fifth consecutive month of price increases as hospitality businesses continue to navigate widespread inflationary pressures. Persistent inflation is being driven by a complex mix of global factors, including geopolitical volatility, adverse weather conditions and sustained high input costs. Pressures have been particularly acute in key categories including oils and fats, where a significant uptick was driven by higher international prices for palm, sunflower and rapeseed oils amid robust global import demand and tightening supplies. The coffee, tea and cocoa category saw the most substantial year-on-year increase, with prices surging as a result of global supply constraints and weather concerns in major producing regions. The meat and poultry category recorded a further price rise, with high inflation in beef and lamb lifting the Food and Agriculture Organisation’s Meat Price Index to an all-time high. This was in contrast to poultry prices, which declined slightly due to ample supplies from abroad. Costs also rose in the milk, cheese and eggs category, and increased production and labour costs may sustain upward price trends here. Shaun Allen, chief executive of Prestige Purchasing, said: “The August report reflects a difficult and ongoing reality for the hospitality sector. While some prices have stabilised or even slightly reduced, the overall trend is one of persistent increases driven by a mix of climate variability, geopolitical issues and enduring pressures on energy and logistics.” Reuben Pullan, senior insight consultant at CGA by NIQ, added: “Yet another increase in food and drink prices is cause for concern as hospitality begins the long run-in to Christmas and new year. Relentless inflation is tightening the squeeze on consumers’ spending in discretionary areas, and sapping the confidence of hard-pressed restaurants, pubs and bars.”

Fortnum & Mason to launch ‘on the go’ hospitality concept as part of its first UK store outside London: Fortnum & Mason is launching an “on the go” hospitality concept as part of its first UK store outside of London. A fixture in the capital since 1707, Fortnum & Mason is launching at Bicester Village in Oxfordshire. As well as the retail space showcasing the company’s range of products, just outside the store will be the first Fortnum & Mason On the Go – a hospitality kiosk offering a curated selection of sweet and savoury toasted sourdough crumpets alongside a selection of drinks. Fortnum & Mason has worked with chef Tom Moore, of Moore’ish Crumpets, to create the crumpets, which will feature flavour combinations created by Fortnum & Mason’s executive chef, Sam White, such as lobster and caviar cocktail and strawberry and champagne preserve with Ivy Farm butter. Fortnum & Mason’s chief executive Tom Athron said: “We’re delighted to be opening our first UK store and hospitality offering outside London, in Bicester Village. Our beautiful new location will allow visitors to the village to explore a curated edit of Fortnum’s extraordinary food and drink.”