As rising food costs continue to make headlines, many restaurants have raised their menu prices to help find a balance and offset their increased expenses. Rather than simply upping prices across the board, it’s a good time for restaurants to evaluate their margins, engineer their menus, and adjust pricing to better the bottom line. RELATED: […]
Restaurants continue to struggle with food costs and labour shortages, but some experts are seeing inflation as a catalyst for positive change. David Hopkins, president of The Fifteen Group, sees the situation as a great opportunity for restaurants to tighten their operations and increase efficiency. Adjust pricing to address inflation “Restaurants have always had to […]
Canada’s inflation rate slowed to 6.3 per cent in December (the lowest it’s been since February 2022), with the cost of living declining 0.6 per cent in November and December. According to reports, the reduced rates are directly related to lower gasoline prices, resulting in December’s lowest one-month dip since April 2020. Food prices, however, […]
As the foodservice industry continues to move towards a full recovery, restaurants are gearing up for a challenging 2023. Restaurateurs are not especially optimistic, with only 16 per cent expecting profits to increase and 50 per cent preparing to lose money next year. In an effort to boost bottom lines, over 30 per cent have […]
As consumers and restaurants continue to struggle with record-high food prices, there’s no end in sight for Canadians. Even though the Bank of Canada has helped to lessen some of the causes of food inflation, but global factors like gas prices and the value of the Canadian dollar will play a part in what happens […]
As Canada’s food costs continue to rise with no end in sight and rumours of an impending recession, consumers are looking at ways to best stretch their dollars. In the last 12 months, three out of four Canadians have changed the way they buy food to try and offset the increased costs. The recently […]
Rising food costs have been in the news for months, with consumers, grocers, and restauranteurs continuing to feel the pinch. In an effort to combat the continued inflation and offset restaurant costs, U.S. menu prices jumped 7.6 per cent in July, just a slight decrease from June’s 40-year high. Though there has been a recent dip […]
By Riana Topan Plant-based purchases may be the key to cost savings for restaurants. With food prices alarmingly high and threatening already-narrow profit margins, food service owners and operators are struggling to find ways to contain costs. According to Restaurants Canada, the price of food at grocery stores rose by 10.1 per cent between June […]
There is no relief on the horizon for restaurants, their patrons, or grocery shoppers amid continuing high inflation and rising food prices. Statistics Canada has released its latest look at how prices have changed on a year-over-year basis, comparing March 2022 and March 2021, and it does not make for light reading. We already know […]
The pandemic has already raised costs in foodservice and beyond, wreaking havoc on supply chains and food availability. And Canadians are about to start paying a whole lot more for food, according to Canada’s Food Price Report 2022. The guide, released on December 9, is published annually by researchers with Dalhousie University, the University of Guelph, […]
