The UK Consumer Price Index (CPI) rose to 4.2% for the 12 months preceding December 2023. It paints a picture that inflation is significantly down compared to the levels seen 6-12 months ago, but a steady decline cannot be taken for granted.

Whilst the drivers behind this increase have been pinned on some specific price rises (tobacco and air travel being high among them) input costs for hotels are of course much higher than this time last year. The question is, how the mix of rising costs, demand levels and seasonality will play out and impact hotel procurement in the UK and Ireland.

This report includes:

• Price indicators for the early months of 2024.
• Price projections for London.
• The trough-to-peak price growth from January up to summer.