Over the past 2 years the UK benefitted from food deflation. That has come to an abrupt end since the Brexit vote, with the drop in the value of Sterling leading to some significant pressure on the price of food. This is forecast to continue into 2017 with many analysts predicting the Pound will not recover to its pre Brexit levels in the short to medium term. As a result, it is estimated that food inflation levels will be between 5-7% in 2017.
PSL’S team are on hand to help your business mitigate the impact of food inflation
WHAT ACTION SHOULD BE TAKEN?
Many businesses would have either written or being in the process of confirming budgets for next year without fully forecasting the impact of food inflation. PSL is well placed to help businesses through our purchasing expertise and ability to deliver better than market prices and our operational expertise where we have a proven track record in supporting businesses in helping them mitigate the impact of inflation and helping to maintain and improve food profitability.
The PSL approach is as much about innovation as it is about cost control and supplier management. With the current economic climate and global uncertainty it is important to take a fresh look at all food costs and ingredients to ensure that your business is best placed and best prepared for sustained increases.
Call our team today on 01926 315111