Once viewed as a quick, affordable meal, fast food is increasingly seen as a luxury by many Americans due to rising menu prices, according to a new LendingTree survey. The financial advice website …
We have the numbers for that too. When they say the food inflation was 3% it doesn’t mean the package price went up 3%, they may have made it smaller but cheaper in a way that the per gram price is 3% more,
The fact is that people splurged on restaurants when the COVID shutdowns were over and now the restaurants raised the prices due to higher demand
Sure for a week a bunch of people went to restaurants, including me, that week was two years ago. Time to admit that food prices are outpacing salaries.
Shrinkflation. Might buy more groceries but it’s mostly plastic
We have the numbers for that too. When they say the food inflation was 3% it doesn’t mean the package price went up 3%, they may have made it smaller but cheaper in a way that the per gram price is 3% more,
The fact is that people splurged on restaurants when the COVID shutdowns were over and now the restaurants raised the prices due to higher demand
Sure for a week a bunch of people went to restaurants, including me, that week was two years ago. Time to admit that food prices are outpacing salaries.
Inflation outpacing wages also happened two years ago
https://www.bls.gov/news.release/cpi.nr0.htm
Food up 2.2% in the last year
https://www.bls.gov/news.release/empsit.t24.htm
Average hourly earnings went up from $28.68 to $29.83 in the same span of time, a 4% increase