One Topic: 10 Facts 14 Franchisee Spotlight

One topic: 10 facts

INFLATION AND ITS TOLL ON THE Restaurant Industry

1In April, the Consumer Price Index was 8.3% higher than last year. This is raising prices in every sector – from groceries to gas.

2Sixty-six percent of restaurant owners say they are struggling with high gas prices.

3Recent inflation has caused drive-thru businesses to take a hit, as 39% of Americans plan to cut back on driving because of higher prices.

4Seventy-two percent of small-restaurant owners worry inflation could force them to close in the next six months.

5During the past 6 months, 45.7% of U.S. restaurant owners have reported a noticeable increase in the price of goods and services. 6 Restaurant menu prices are at the highest they have been in 40 years.

7Forty-two percent of consumers are reducing the amount they eat out.

847% of business owners have raised their prices because of inflation.

9Restaurant traffic in April was down 9.4% year-over-year.

10 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 Statistics