Reported about 1 year ago
Consumers are facing rising dining costs both at home and away, with the cost disparity now at a record high, according to Bank of America Securities. The article discusses the findings with Senior Food and Beverage Analyst Peter Galbo, noting that it is $10 more expensive to eat out in a quick service setting and $25 more in a sit-down environment per person. Despite concerns over price sensitivity, upper-income consumers are driving more spending away from home, leading to increased promotional activities by restaurants and food companies like General Mills and Hormel in response to rising prices.
Source: YAHOO