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Restaurants experience customer decrease
April 13, 2008
BusinessWeek: A competitive environment for restaurants is getting tougher as hungry consumers are spending more time cooking at home.Even if customers do decide to eat out or order in, they're increasingly likely to experience sticker shock when the bill arrives. On Mar. 31, New York-area Chipotle restaurants hiked prices almost 10 percent.
While it's still cheaper for Americans to cook most food at home, the costs of food at the supermarket are rising faster than menu prices at restaurants — 3.9 percent in the past year at restaurants, vs. 7.6 percent food-price inflation in the past year, says Hudson Riehle of the National Restaurant Association.
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