Last year it was seen that a number of consumers were still going out to get a meal despite inflation and higher prices for food at grocery stores and elsewhere. This year it is the same, recent data from the U.S. also shows that consumers spent over $80 billion in Jan alone on dining out at restaurants.

That is good news for restaurants and small food businesses that have been struggling since the pandemic to make up for the negative impact that closures might have had on their restaurants.

A variety of tips had been given to the public as inflation has been driving up the cost of living for millions, among those is the common suggestion that people should start to cook more of their meals at home.

With the cost of food going up it has also pushed more people to turn to their local food banks to get help. Food banks around the country have been seeing a surge in demand in their communities.

Food is one of the biggest spending areas for consumers today.

Shelter and food together can take up the majority of earnings that many people and families are pulling in monthly.

The average cost of groceries has gone up for many and for a family is easily upwards of $1,000 per month that they might be spending on food alone. They might be spending a lot more if they have special diet requirements too that can possibly limit them to only purchasing certain types of food items.

Some estimates have suggested it might be around 11% or more that families are spending on food in 2022.

There have been a variety of reports and videos investigating whether eating fast food or eating out might be most cost effective. Is eating at restaurants cheaper? Sometimes it can be but often it is going to be a lot more if done on a regular basis. For some though they might require the time saved in not having to do grocery shopping, cooking, cleaning up after their cooking etc, of more value and this could be why they continue to keep up with restaurant habits even when food prices go up.

In 2023 it looks like consumers in the U.S. are still spending more at restaurants than they are at grocery stores.

pics:
pixabay
sources:
https://finance.yahoo.com/news/consumers-are-still-spending-at-restaurants-despite-inflation-193806216.html
https://www.cnbc.com/select/tips-for-dealing-with-inflation/
https://6abc.com/thanksgiving-2022-inflation-turkey-prices-food-costs/12443103/
https://www.forbes.com/advisor/personal-finance/why-are-food-prices-still-rising/
https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/how-much-should-i-spend-on-groceries