93 Restaurant Industry Statistics Every Food Service Operator Needs to Know in 2024
Apicbase
FEBRUARY 29, 2024
Food costs increased in 2023: according to one survey, 60% of operators reported that all or most suppliers raised their prices , up from 50% in 2022. Most operators raised their menu prices in 2023, but fewer expect to do so in 2024. Although revenue went up (thanks to higher prices), profits went down due to high food costs and debt.
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