Surviving the economic vortex: How restaurants can weather inflation's storm
As inflation tightens its grip on the economy, many people are feeling the pinch, from housing to transportation to retail and services, including restaurants.
"We don't go out near as often as we used to. How often, where we go, you stick to the reasonable restaurants, and [we] found out that some of the quick foods are not reasonable anymore," said resident Bill Bell.
The food service industry is in a difficult position as rising food costs and customer expectations continue to pose challenges.
Deb Heels owns Deb's Place on Huronia Road in Barrie and is concerned.
"Food costs go up almost on a daily basis as a restaurant owner, I can't put my costs up on a daily basis to cover those. Cautiously optimistic is a good way to put it, yes, because who knows what tomorrow will bring, what with the cost of things increasing, how it will affect us," said Heels.
Restaurants Canada says 62 per cent of restaurants are operating at a loss or are barely breaking even, compared to 12 per cent pre-pandemic.
Su Ling Liu owns and operates Chef Chan Chinese Food in Barrie. She was forced to raise her prices about a year and a half ago but is concerned she might lose business if she does it again.
"I really worry for me to lose customers because if you keep the price for the food going up. This year, they are going up for at least 50 per cent to 55 per cent for the food cost," Liu said.
Restaurants Canada says the food service industry is a $114 billion industry.
According to restaurant owners, customers may not be aware that food prices have increased for takeout.
Even these new wood forks and knives cost them more than double what they paid for plastic. While they're not against the environmentally friendly move, they say it's yet another extra cost.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6972157.1721587842!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
BREAKING NEWS Joe Biden drops out of 2024 race, endorses Kamala Harris to be Democratic nominee
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election after a disastrous debate with Donald Trump that raised doubts about the incumbent's fitness for office with the election just four months away. It was a late-season campaign thunderstrike unlike any in American history.
What happens next: Joe Biden wants to pass the baton to Kamala Harris. Here's how that might work
With U.S. President Joe Biden ending his re-election bid and endorsing Vice President Kamala Harris, Democrats now must navigate a shift that is unprecedented this late in an election year.
Justin Trudeau reacts to Joe Biden announcing he won't run for re-election
Prime Minister Justin Trudeau responded to the news that U.S. President Joe Biden won’t run for re-election Sunday, calling Biden a 'true friend.'
Harris, endorsed by Biden, could become first woman, second Black person to be U.S. president
Kamala Harris could become the first Black woman to head a major U.S. party presidential ticket after U.S. President Joe Biden abruptly ended his re-election bid and endorsed her.
Read Biden's full text announcing the end to his re-election campaign
U.S. President Joe Biden ended his re-election campaign on Sunday after fellow Democrats lost faith in his mental acuity and ability to beat Donald Trump. He announced his decision in a letter posted on social media. Read the full text.
LCBO workers ratify tentative agreement, strike ends Monday
The union representing 10,000 workers at the Liquor Control Board of Ontario (LCBO) has ratified a tentative agreement, which will officially end its two-week strike at 12:01 a.m. Monday.
Joy in Newfoundland after 'Lucky 7' fishers survive harrowing days lost at sea
There was a powerful word being repeated in the joyful Newfoundland community of New-Wes-Valley on Sunday: 'Miracle.'
The pilot who died in crash after releasing skydivers near Niagara Falls has been identified
NEW YORK (AP) — Officials on Sunday released the name of a pilot who died in a skydiving flight after her passengers jumped from the aircraft near the Niagara Falls.
A 12-year-old girl is accused of smothering her younger cousin over an iPhone
A 12-year-old girl in Tennessee has been charged with murder, accused of smothering her eight-year-old cousin as the younger girl slept. A relative said they had been arguing over an iPhone.