10 ways to combat food cost inflation

As the impending reality of Brexit looms over the United Kingdom, analysts predict that food prices will soon skyrocket as food imports become subject to new tariffs. As it stands, Britain’s withdrawal from the European Union is likely still at least one and a half years away from completion. Still, it is never too early to begin preparation for food price inflation. Wise operators should know to avoid sudden price hikes, learn how to wield technology as a defense against inflated costs, invest in an in-house butcher, standardize portions, and reduce reliance on fish. These and other tips will help food operators navigate the pitfalls of Brexit successfully.

Key Takeaways:

  • The United Kingdom’s withdrawal from the European Union is estimated to become official during the first months of 2019, but that doesn’t mean it’s too soon to begin preparing for its effects
  • Most food items that operators will be dealing with will be meats, so finding a way to incorporate an in-house butcher could be a cost-saving measure in the long run
  • Adopt more flexibility toward less stable food items like fish and cheese, and allow room for your menu to adapt based on market needs

“The tone of the Brexit negotiations may be softening as a result of Theresa May’s election setback, but the Government still looks likely to leave the customs union, which will cause tariffs on food entering the country to shoot up dramatically.”

Read more: http://www.bighospitality.co.uk/Business/10-ways-to-combat-food-cost-inflation

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