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Inflation falls less than expected

UK inflation fell by less than expected in March, to 10.1%.

Economists had forecast a drop to 9.8%.

UKHospitality Chief Executive Kate Nicholls said: “It’s becoming increasingly concerning that we’re not seeing inflation decrease as quickly as many hoped, particularly when business costs are experiencing inflation far higher than the 10.1% released by the Office for National Statistics today.

“We saw just last week that food service price inflation remains over 20% and new research shows that the price pubs paid for food rose three times quicker than their menu prices.

“Hospitality businesses are doing all they can to shield consumers from price rises, which means they’ve absorbed as much cost as they can, but that is becoming unsustainable for many.

“Our sector can help the Government achieve its aims of halving inflation, if it is given a helping hand by the Government to ease recruitment challenges and energy suppliers are reigned in so energy costs are able to fall. I would strongly urge it to do so and harness the power of hospitality to create employment and economic growth, and reduce inflation.”


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