by John S. Tobey
Forbes
Food prices, both “at home” (think grocery stores) and “away from home” (think restaurants), are up 25% during the Covid period from January 2020. This high cost change of a consumer necessity is cause for recessionary actions.
Reuters just published this timely article that explains the food inflation’s reality effects: “Fast-food companies seeing low-income diners pare orders” (March 27 – Underlining is mine).
“Runaway prices at U.S. fast-food joints and restaurants have made people skittish down the income ladder and executives at chains including McDonald’s and Wendy’s recently said they worry about losing business from those on the tightest budgets.