Connect with us

Hi, what are you looking for?

Money Management

Why It’s Getting So Much More Expensive To Eat Out

If you like to eat out, you’ve definitely noticed that it is getting more expensive.

Full-service restaurants across the US have been increasing their prices steadily over the years. Bloomberg has compiled data which demonstrates how food prices both at home and at restaurants have been rising together since the turn of the millennium. While this is typical and should always be expected, by 2012 the cost of eating out started increasing at rates which groceries did not. When adjusted seasonally, it is quite clear that the frugal American should eat at home as much as possible.

There are several reasons for the trend of fast-rising costs for eating out. Full-service restaurants in the US have been faced with increasing food and labor costs, which have been passed onto the consumer. According to a US Labor Department released in January, these costs led to the highest full-service restaurant cost increases seen in seven years in December of 2018. The situation has not grown any better throughout 2019.

The widening gap between the cost increases for groceries and full-service restaurants has been slowly becoming more clear to American consumers. The consumer price index, which includes basic necessities such as food and utilities is increasing at a rate resting around 0.1%, according to the Bureau of Labor Statistics. This doesn’t compare well when compared to the increases seen at full-service restaurants, which saw a 0.5% price increase in December of 2018 alone. This increasing gap may soon push Americans to eat at home a lot more.

https://www.casho.la/wp-admin/options-general.php?page=ad-inserter.php&start=1#tab-4

You May Also Like

News

In the past year, Peloton, manufacturers of stationary exercise bicycles and treadmills, has been experiencing some severe financial difficulties. The company went through a...

News

While the ongoing supply chain problems affecting the global economy have had the expected effects, they’ve also had some decidedly unexpected effects. Specifically, many...

News

As gas prices continue to rise and consumer confidence drops, not to mention the ongoing war in Ukraine, the European economy is taking a...

News

As the environmental need for electric vehicles becomes more pressing, and the car-buying public becomes more eager for them, automotive manufacturers are getting ready...

News

This morning, Coinbase CEO Brian Armstrong sent a mass email out to his company informing everyone that, as stock and crypto prices slip and...

News

Last week, a former cybersecurity expert for Twitter, Peiter “Mudge” Zatko, released a whistleblower report on the social platform. In his report, Zatko cited...

News

Zelle is a peer-to-peer payment app and service that can be used by individuals to send and receive money, in a similar vein to...

News

Earlier this week, following the third-term victory of Chinese President Xi Jinping, market shares in Hong Kong experienced a sudden, violent sell-off. Xi’s controversial...