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Restaurant Prices

All articles tagged with #restaurant prices

business1 year ago

"California Fast-Food Franchisees React to $20 Minimum Wage Law"

A McDonald's franchisee in California has raised menu prices in response to the state's new $20 minimum wage for fast-food workers, but expressed concerns about the limit to how much customers will pay. The franchisee emphasized the need to explore labor-efficient growth and digital and delivery avenues to offset the wage increase, while also postponing major investments. The new legislation affects limited-service chains with at least 60 locations nationwide, and restaurant owners are evaluating various measures to mitigate the impact, including potential price increases and labor cuts.

via Business Insider|
#business#california#fast-food-industry
business1 year ago

"McDonald's Adapts Menu and Strategy as Lower-Income Consumers Pull Back"

McDonald's prices have risen, leading lower-income consumers to opt for cooking at home due to inflation and higher restaurant prices. The fast-food chain's CFO mentioned that some consumers are choosing to eat at home more often, prompting McDonald's to offer more affordable options at its drive-thrus. Additionally, international sales, particularly in the Middle East, have been impacted. Overall, food inflation is rising at a slower pace, and other discount chains like Family Dollar are also feeling the effects of high inflation.

via CNN|
#business#consumer-spending#fast-food
economics1 year ago

"Understanding the Paradox of Rising Food Prices Despite Cooling Inflation"

Despite overall inflation cooling, food prices continue to rise, with restaurant prices increasing at a faster pace than grocery costs. Factors contributing to the rise in food prices include higher labor costs, record-low cattle numbers driving up the cost of beef, and supply issues due to climate change. Fast-food prices have also surged, impacting low-income consumers disproportionately. While grocery prices are forecasted to moderate later this year, restaurant meals are expected to continue rising.

via CBS News|
#consumer-spending#economics#food-prices
business1 year ago

"Rising Restaurant Prices: The New Luxury Dining Experience"

Rising restaurant prices, with a 5.1% increase in food consumed at restaurants compared to a 1.2% increase in grocery prices, are making dining out more expensive than eating at home for Americans. This trend reflects the impact of inflation on daily life and could pose challenges for President Joe Biden's campaign in an election year. The shift is attributed to increased demand for services, such as dining out, which has led to upward pressure on wages.

via CNN|
#business#consumer-spending#dining-out
business2 years ago

Grocery Prices Continue to Drop for Second Month in a Row.

Grocery prices fell by 0.2% in April, with dairy prices dropping 0.7% and fruit and vegetable prices falling 0.5%. However, food prices have risen by 7.7% in the year through April, with grocery prices jumping 7.1% and menu prices increasing 8.6%. Restaurants have been raising menu prices to cover their own costs and pad profits, but some are now seeing resistance to pricing. Food prices have been soaring due to extreme weather, supply chain disruptions, and other factors.

via CNN|
#bureau-of-labor-statistics#business#consumer-spending
food2 years ago

The Rising Cost of Classic Dishes: Shrimp Cocktail and Hot Dogs Reach New Heights

Shrimp cocktail is becoming a pricey indulgence at steakhouses, brasseries, taverns, chic oyster bars, and elsewhere due to labor shortages, food costs, and other inflationary forces. The cost of preparing it is high enough that a chef could legitimately charge even more for it. Amid rising restaurant dish prices, dining out generally costs 21% more now than right before the COVID shutdown. Despite global shrimp prices being down from a decade ago, chefs might be offsetting the costs of other ingredients that are rising in price.

via Bon Appetit|
#dining-out#food#food-costs