The owner of restaurant chains Wagamama and Frankie & Benny’s has warned its annual food costs are set to jump by up to 10% this year as it battles soaring inflation.
The Restaurant Group (TRG) said it was braced for food and drink costs to rise by around 9% to 10% over its full-year, up sharply from around 5% at the time of its full-year results in March.
The group said it continues to work with supply chain partners to offset some of the higher costs but cautioned it “remains a volatile inflationary market”, with price pressures compounded by the war in Ukraine.
