For the first time in probably forever, it’s cheaper to eat out than it actually is to cook at home!
At least it’s more cost-effective, thanks to the absolutely insane rise in grocery prices as of late.
David Ortega, a food economist at Michigan State University, told The New York Post, “Grocery prices increased 13.1% [in the last year] whereas food away from home prices increased substantially less than that — at about 7.6%. Consumers are seeing the price of groceries rise much more than the price of restaurants or fast-food establishments.”
Grocery prices have increased at such an exorbitant rate because they’re more directly impacted by rising food costs and supply chain issues. With restaurants, the cost of ingredients is only a small fraction of their costs.
Ortega explains, “In a restaurant, [customers are] paying for more than just food; you’re also paying for the labor, you’re paying for rent, utilities, those types of things.”
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