One topic: 10 facts
INFLATION AND ITS TOLL ON THE
Restaurant Industry 1
In April, the Consumer Price Index was 8.3% higher than last year. This is raising prices in every sector – from groceries to gas.
2
Sixty-six percent of restaurant owners say they are struggling with high gas prices.
3
Recent inflation has caused drive-thru businesses to take a hit, as 39% of Americans plan to cut back on driving because of higher prices.
2022 Issue 2
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THE
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10
4
Seventy-two percent of small-restaurant owners worry inflation could force them to close in the next six months.
5
During the past six months, 45.7% of U.S. restaurant owners have reported a noticeable increase in the price of goods and services.
6 7 8 9 10
Restaurant menu prices are at the highest they have been in 40 years.
Forty-two percent of consumers are reducing the amount they eat out. 47% of business owners have raised their prices because of inflation.
Restaurant traffic in April was down 9.4% year-over-year.
Prices at limited-service places were about 7% higher than they were during April 2021. Sources: CBS, Forbes, Lendio, Restaurant Business Online, U.S. Bureau of Labor Statistics
