Knowledge Centre
11th June 2009
Restaurants and pubs are slashing prices as competition increases, say industry experts.
Having risen for five consecutive years, meal prices could now fall to 2006 levels, foodservice analysts Horizons said.
According to new research by the company, the average price of a meal in a restaurant increased by 20% between 2004 and 2008, from £10.09 to £11.98.
The cost of a pub meal rose by 30% from £10.61 to £13.76 over the same period.
However, the analysts say they are now seeing meal prices fall, as food inflation slows and competition increases.
"We are beginning to see menu prices falling, particularly with the number of special deals and offers currently in the market," said managing director Peter Backman.
"The cost of eating out is likely to continue falling, at least until the end of 2009. Indeed, restaurant bills could fall back to 2006 levels."
Eateries slash prices to beat recession
Having risen for five consecutive years, meal prices could now fall to 2006 levels, foodservice analysts Horizons said.
According to new research by the company, the average price of a meal in a restaurant increased by 20% between 2004 and 2008, from £10.09 to £11.98.
The cost of a pub meal rose by 30% from £10.61 to £13.76 over the same period.
However, the analysts say they are now seeing meal prices fall, as food inflation slows and competition increases.
"We are beginning to see menu prices falling, particularly with the number of special deals and offers currently in the market," said managing director Peter Backman.
"The cost of eating out is likely to continue falling, at least until the end of 2009. Indeed, restaurant bills could fall back to 2006 levels."
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