Whatever the outcome of the General Election, the hospitality sector urgently needs a period of market stability to help operators deal with the impact of food and drink inflation, warns buying specialist Lynx Purchasing.
With the Summer 2017 edition of the Lynx Purchasing Market Forecast showing a slight decline in the rate at which prices are rising, Lynx managing director Rachel Dobson says: “Whoever is in Government after June 8, they will be getting down to almost two years of detailed Brexit negotiations.
“While it’s inevitable that there will be political debate about the outcome on both sides of the channel, we can only hope that the markets continue to take a more pragmatic view. The impact of the fall in the value of sterling after the Brexit vote has now been more-or-less priced in by suppliers, so there is potentially a period of greater stability ahead if the markets focus on the long-term picture rather than constantly react to speculation.”
The Market Forecast shows that the ‘Lynxometer’, a basket of food and drink bought regularly by Lynx Purchasing customers, increased by 6% over the 12 months to June 2017, down from 9% in March. Dobson adds: “Prices are still rising, but not as fast, which is some respite for operators.”
Among the specific product areas featured in the latest Market Forecast are:
Dobson adds: “The long-term impact of Brexit on the hospitality sector will be decided by the nature of the deal in a range of areas, including faming and fisheries policy, import tariffs, and the availability of migrant labour. Whatever is decided, it will be several years before anything changes, and operators will have plenty of notice to plan. What’s needed is market stability in the interim.”
The Summer 2017 edition of the Lynx Purchasing Market Forecast can be downloaded FREE at Lynx-Purchasing-Market-Forecast-Summer-2017.pdf .
Lynx Purchasing works with more than 2,200 hospitality and catering operators to match them with the best suppliers and get the best possible prices on food and drink, as well as a whole range of essential products and services. Lynx’s buying experts help operators buy better and save time and money, year after year.
Issued on behalf of: Lynx Purchasing
By: ShielPorter Communications
Further information: John Porter: firstname.lastname@example.org / 07734 054389
Ros Shiel: email@example.com / 07841 694137