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how does inflation affect hospitality in Nigeria industry

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Inflation in the hospitality and catering industry refers to the rising costs of goods and services, which can affect everything from food prices to labor costs. This increase can result from various factors, including supply chain disruptions, increased demand, and economic conditions. As a result, businesses may raise their prices to maintain profit margins, impacting consumer spending and overall industry profitability. Ultimately, inflation can lead to shifts in customer behavior and industry practices as businesses adapt to the changing economic landscape.


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