FSA refuses to recalculate menu averages

The FSA has dismissed calls to recalculate market average levels on its menu pricing system, despite...

The FSA has dismissed calls to recalculate market average levels on its menu pricing system, despite supporting Aifa's view that current figures are flawed. Aifa referred the regulator's pricing system to the Office of Fair Trading (OFT) last April as it felt that, with the figures calculated using both advised and non-advised business, the averages were low and would discourage competition. While the regulator said there is evidence providers included non-advised sales in information returns, meaning the averages are too low, it said revised figures would not significantly influence co...