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, […]
Many restaurant chains are still on the path to recovery, continuing to struggle with inflation, supply chain delays, and labour shortages. But for some, 2023 brings the promise of growth and expansion, even amid the possibility of an impending recession. RELATED: 2023 sees food prices rising even higher As we work towards getting back […]
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 the foodservice industry sees a gradual increase in traffic and sales, what does the road to recovery look like? It’s been a tough few years, with rising food costs, labour shortages, and new work-from-home patterns impacting restaurants’ return to pre-pandemic standards. In a recent webinar, Chris Elliott, senior economist at Restaurants Canada, took a […]
Restaurant sales in Canada surpassed their pre-COVID-19 levels for the first time since the pandemic began in March, according to Statistics Canada. New data shows that Canadian bar and restaurant sales increased by 6.5 per cent monthly in March to $6.8 billion, reports the Canadian Press. Year-over-year, sales were up 35 per cent compared with […]
