Restaurants, Food Suppliers To Raise Prices
Thanks to increases in the prices of commodities like beef, many food chains are adjusting their menus to reflect higher prices across the board. Many food suppliers are renegotiating long-term contracts with purveyors, and with beef and veal costing almost 20% more, places like McDonald's, Chili's, and Carl's Jr. will have to adapt to these culinary hard times. From the HuffPo:
Even fast-food leader McDonald's Corp. is considering making some changes to its popular dollar menu -- either by changing the items on the menu or bumping up prices -- saying the cost of selling meat at such low prices might be too high. The decision to raise prices or change menus could have some harsh repercussions, especially because more diners are already eating at home to avoid pricey restaurant food. With the stock market dropping and consumers questioning whether their retirement savings will be available when the time comes, paying more for a meal out may be even harder to stomach.
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