From BofA Restaurant Industry Report | March 02, 2023
Although the outlook remains murky for the restaurant industry into 2023, there are a few positive signs: Chicken and beef prices have been heading down, although the impact of a lengthy war in Ukraine still hovers over future food supplies and prices. Additionally, during the summer, the price of food at home (grocery stores) increased at a higher rate than the price of food away from home (restaurants), and that widening price gap makes restaurant meals a better deal for many consumers.
