Skyrocketing restaurant prices outpace grocery costs; Restaurants are going bust.
Food altogether rose 3.3%, just above an overall price increase of 3.2%.
“If you’re watching your budget, it might be time to skip the drive-thru and head to the supermarket.
In the 12 months through October, higher restaurant prices drove food prices above overall inflation, even as grocery prices were relatively low.
For the year, grocery prices rose 2.1%, according to Consumer Price Index data released Tuesday by the Bureau of Labor Statistics. But menu prices were up 5.4%, driven largely by a 6.2% rise at limited-service restaurants, which include fast food and fast casual spots. At full-service restaurants, where servers take your order at the table, prices were up 4.3% for the year, according to the BLS.
Fast food and fast casual have hiked prices, such as CMG raised prices 13% annually, MCD 10%.
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Food altogether rose 3.3%, just above an overall price increase of 3.2%.
Many fast food and fast casual places say they’ve seen some benefit from customers trading down from pricier options. For those businesses, higher prices have not led to lower sales.
Chipotle, for example, said in October that it would raise prices again. The year before, it had said prices were up about 13% annually. And when the company reported earnings later that month, it warned that it might raise prices yet again in California, blaming a new law that raises minimum wages for fast food and fast casual workers in the state.”
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Skyrocketing restaurant prices outpace grocery costs: What it means for consumers
Campamento Tortuguero Playa Hermosa is a turtle sanctuary on Bonfil Beach outside of Acapulco that rescues sea turtle eggs that would be likely destroyed by vehicles on the beaches or pilfered by tourists. The sanctuary protects the eggs, hatches them and releases the babies into the ocean while protecting them from seagulls and other winged predators.
The 35-year-old sanctuary is run by the mother/daughter duo of Monica and Michel Vallarino, who have helped educate the community and the tourists on the ecology of the turtles while simultaneously providing a refuge for puppies, kittens, ducks, rabbits, and other wayward animals.
The Art of Liberty Foundation hosted an annual fundraiser from 2018-2020 called the Art of Liberty on the Beach (aKa The Turtle Party), where many of the leading artists in the liberty movement have rocked the sanctuary including Grant "Prezence" Ellman, Truniversal/Free Willow, Alais Clay, the Freenauts, DJ Koala, DJ Ramiro Romani and ELA-mental among others.
The sanctuary was devasted by Hurricane Otis, a category five hurricane that hit Acapulco and Bonfil Beach on November 2nd 2023.
25% of Funds Raised Will Benefit Other Residents of Bonfil Beach
The Art of Liberty Foundation is organizing a fundraiser where 100% of the proceeds will go to direct relief. The Vallarinos have agreed to share 25% of the proceeds with other Bonfil Beach residents in need to be distributed at their discretion.