Monday 17-04-2023 - 11:43

We have been advising you that we have been working very hard to hold off many price increases throughout the year which has enabled you to continue to deliver great value for students, however, in line with the contractual arrangements, from next month our suppliers will start to submit price increases for the year ahead and we shouldn’t be surprised given the huge inflationary pressures, at some of those increases.

We don’t have any detailed information yet but want to continue to give you the heads up ensure you are preparing to make plans to adjust your menus and pricing once we have concluded our negotiations.

To give you the best steer we can at this stage, we use RPIX as an indicator which is expected to be 8.9 percent for 2023, we have also looked at the forecast indicators for 2024 when RPIX is forecast to fall to 1.6 percent by 2024.

We will be doing our utmost to mitigate any proposed increases above 8.9% RPIX and where we feel suppliers are unable to offer continuing value IE proposed price increases are just too high – we will look to switch out products where we can and we may even need to de-list some suppliers.

Why are we telling you this? We need your support, we may come to you where we have a situation where we may need you to switch supplier and/or products where we believe proposed pricing is untenable and we may need a very quick response from you in this regard.

In the meantime, if you have any questions please don’t hesitate to get in touch