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Food Prices Going Up, Restaurants Cutting Back
As if the rising rent prices weren't enough, now food prices are skyrocketing for consumers all over the country. Everywhere you look this morning, there are articles about the rising costs of staples like eggs, milk, and even coffee. As gas prices rise and demand for alternative fuels made from corn also increases (corn is the staple crop of all Americans), your grocery bill is suffering.
EaterLA tipped us off to another article from last week's Wall Street Journal, which reveals one of the more shocking repercussions of the market crunch: Pink's is raising the price of its hot dogs, one of many restaurants across the country which must cut costs or reduce portion sizes in order to remain profitable. Higher-class establishments like the Patina Group are cutting down on their imported wines and ingredients.
Joachim Splichal also is feeling pinched by olive-oil costs. His Patina Restaurant Group operates 60 venues in the U.S. and uses as many as 60,000 bottles of extra-virgin olive oil a year, says Mr. Splichal, chef and founder. Prices are up 43% from last year to $20 a bottle. He is tasting olive oils from Napa and Sonoma valleys in California, as well as from Mexico and Argentina, to find high-quality substitutes. He has started buying more domestic wines as the price of European bottles goes up.
Luckily for the cost-cutting Angeleno, farmer's markets still offer great prices on healthy foods that didn't have to be flown in from Argentina to get to your plate. Watch this space for more tips and tricks to stretch your food dollars....