We read about it in the news and you see it in grocery stores and restaurants: Food prices are hitting all-time highs. Driven by increased inflation rates from commodities like butter, eggs, pork and beef, year-to-date wholesale food prices are at their highest in three years, up 5.3% according to the National Restaurant Association’s Restaurant Performance Index. Read on: What Restaurants Can Do to Battle Rising Food Costs
Beef prices in the U.S. are hitting record highs and are expected to climb over the next two years, as predicted by the USDA. In fact, experts expect a 10 percent rise in 2012 and 2013. Shoppers and restaurant owners alike are already feeling the pain from the price increases. A combination of factors, including severe drought in the U.S.’s most populated areas of cattle, Texas and Oklahoma, a weak U.S. dollar, and high foreign demand, have led to a high sticker price for Americans.
How can a restaurant owner maintain profitability during beef price volatility? There are a variety of non-beef options to be substituted…
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