Inflation affecting restaurant’s menu prices
Restaurants are adjusting their menu prices to make up for the increase in supply costs
WAUSAU, Wis. (WSAW) - Inflation is continuing to affect people and businesses across the country. Now, many restaurants and food trucks are raising their menu prices to make up for the increase in the cost of supplies.
”All the way around. Everything, everything cost more right now,” said Mitch Slaughter, the owner of Mitch’s Texas Tacos.
High inflation is costing restaurant owners more money to run their businesses.
”For restaurants, their food inflation as well as other goods and services they need to require, are running at about 17% higher than the prior year,” said Susan Quam, the executive vice president of the Wisconsin Restaurant Association.
Slaughter said he’s had to raise the prices on his menu to make up for price increases.
“Just right off the bat, I just had to raise all my prices, which I try not to do,” said Slaughter.
The price increase is to keep the business profitable.
“Those menu prices are not because they’re trying to take advantage of consumers. It’s because if they don’t, they will lose money,” said Quam.
Slaughter said he has been paying more for many of the items he uses in his food truck.
“And a lot of stuff has doubled. Some of my tortilla prices have doubled,” said Slaughter.
Slaughter said products, like a 24-case of soda, have gone up about $2.
“For chips, for lettuce, avocados, everything,” said Slaughter, “It’s just hit everywhere you go. And it changes. And chicken prices and all the problems that we’ve had. They’ve all gone up.”
It’s more than just the cost of food.
“It’s the cost of the gas that powers their stoves, the cost of the electricity that keeps their lights and refrigerators running. All of that is increasing,” said Quam.
Slaughter said he’ll have to pay the price whether the cost of food or expenses goes up or down, so he said his main priority is his customers.
“What I do is I focus on the people, not on the business aspect. If you make the people feel wanted when they come in, there’s no price you can put on that,” said Slaughter.
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