Restaurants, Food Suppliers To Raise Prices

Published Oct 14, 2008 11:00 PM

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.

Sure, this may be a bad situation for chain restaurants, but for the average American consumer? There's no better time to buy local, cook for yourself, and read up on some Michael Pollan (here he is offering advice on food policy to the next commander-in-chief, what moxie!). How about eating less meat, as well? Saving beef for a once-a-week treat is a great way to save the environment and save yourself a few calories.

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Restaurants, Food Suppliers To Raise Prices