Restaurant operators are the most pessimistic they've been about the economy since the Great Recession, a recent survey showed.
Chef John Munoz seasons a chicken at Lombrano Food Hall on Saturday. Munoz said he used to buy chicken that was already cut, but has resorted to purchasing whole chickens amid rising prices.The first year of the pandemic was an existential challenge for many restaurants. The following year saw some operators make record profits, while many others continued to struggle. Now, many restaurateurs seem to think the light at the end of the tunnel isn’t getting closer, but moving farther away.
The average price of supplies for a restaurant operator increased nearly 18% in May over last year, according to figures from business intelligence group NPD Group. Egbert said Bill Miller Bar-B-Q has seen visits to its stores decrease as a result. So now it is trying to change tactics. “We’re taking a deep dive into what value items we can promote, items that would help feed a family of four,” Egbert said.
San Antonio-based Bill Miller Bar-B-Q is absorbing higher food costs and “taking a deep dive into what value items we can promote,” says President and CEO Jim Guy Egbert.John Munoz, who owns Chef John’s Catering and teaches culinary classes at St. Philip’s College, said inflation has been a “killer.” Like Egbert, he pointed to chicken prices nearly doubling amid rising labor costs. His catering firm used to hire starting at $12 an hour. “Now I’ve got to pay $15 to $16 for a kid out of college.
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