Quote:
Originally Posted by JustRalph
New York Times today-2-21-24 headline:
It’s Been 30 Years Since Food Ate Up This Much of Your Income
Ongoing high costs lead food manufacturers and restaurants to keep prices elevated
Eating continues to cost more, even as overall inflation has eased from the blistering pace consumers endured throughout much of 2022 and 2023. Prices at restaurants and other eateries were up 5.1% last month compared with January 2023, while grocery costs increased 1.2% during the same period, Labor Department data show.
Relief isn’t likely to arrive soon. Restaurant and food company executives said they are still grappling with rising labor costs and some ingredients, such as cocoa, that are only getting more expensive. Consumers, they said, will find ways to cope.
“If you look historically after periods of inflation, there’s really no period you could point to where [food] prices go back down,” said Steve Cahillane, chief executive of snack giant
https://www.wsj.com/economy/consumer...ncome-2e3dd3ed |
I heard Biden just like week blame greedy men like JustRalph for the elevated cost of food. Slimy restauranteurs stealing money from poor people when in reality food prices aren't that bad.
All I know is that in my business, which is 90%+ labor cost, my wages have gone up 34% in three years. It's unsustainable because I'm not getting 34% better employees. Many are still slugs. If I don't pay them that much, then the next guy will. Wage pressure is a big deal in my industry (health care).
I just wish more people in govt actually understood and worked in a business and what it takes to be successful. What an eye opener it is to wear 20 hats a day with about 50 "business partners" reaching into your pocket trying to take some of your cash.
