Food is more expensive than it has been in decades

Short commentary of how it is getting more expensive to dine out and eat in due to rising food costs. Bad news for American consumers: It's getting more expensive to dine out, and it's getting more expensive to eat at home.

This article was posted by: Danielle Wiener-Bronner, CNN Business
Titled: Food is more expensive than it has been in decades
URL: https://www.cnn.com/2021/12/11/business/grocery-restaurant-prices/index.html
Date Posted: Updated 8:53 AM ET, Sat December 11, 2021

The key take-aways from the article are as follows:

• Restaurant prices spiked 5.8% over the 12 months ending in November without seasonal adjustments
• Beef had the most dramatic increase with a 20.9% spike in prices
• Restaurants have been raising prices as their own food and labor costs rise
• Higher prices at the grocery store will likely stick around into next year
• The hikes in food are part of a trend of increasing prices overall.
• Meat and Lettuce prices have seen large increases

Restaurant owners and food service industries can track their costs better by utilizing Costmenu's services with some of the following solutions:

Monitor Changing Food Costs.

Costmenu allows users to track food cost and prepared item costs are critical to make sure menu items are priced right in order to get the proper returns. See in real time the effect of inflation and surges in what items are changing.

Compare different food items against each other.

Users on Costmenu can compare different food item costs and usage against each other and how they influence the overall costs. For example users can see if one cut of beef at one price versus a different cut at another price can influence the final cost of the menu item and by how much. This can be useful when needing to replace a more expensive product with another food item.

Keep historical data on food costs and monitor your vendors

The above article really outlines a bunch of price increases over time, but how is your specific supplier reacting. Using Costmenu will allow you to monitor your purchases and the costs associated with them. In addition to the costs, you can track the service level as well. It is one thing to have to pay more for an item due to supply and demand, but you surely do not have to endure poor service while doing so.

About Costmenu:
Costmenu is a food/menu/recipe costing software that offer many advantages over excel spreadsheets and other inventory management programs. Costmenu integrates a powerful dashboard, food, prepared, and menu item costing features, menu building features, custom qr code label makers, document storage, event/catering management features, data security, performance measurement, data analysis and comparisons, CRM, and generation of various reports. For more information on Costmenu, visit https://costmenu.com, email sales@costmenu.com, or phone (949) 274-4814.