In a recent report, the Texas Restaurant Association states that restaurants have seen a price increase of 8% over the past year, while their main competitor, grocery stores, have increased 13.5%. These price increases are attributed to inflation, supply chain issues, and rising labor costs.
Although it may be relatively cheaper to eat out, groceries are a necessity and people will always buy them, Jansen explained. ”I don’t know that this relative advantage in terms of growth rates in prices at restaurants versus home...I don’t suspect it to continue, as a matter of fact I suspect it won’t. "
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