Consumers spend 40% of their monthly budget on food in restaurants

Despite galloping inflation in the country, which has had a strong impact on food prices, many Americans prefer dining out than preparing their own meals.

A new survey by digital trading platform PopMenu revealed that Americans spend 40% of their monthly budget on individual or family meals at restaurants.

Brendan Sweeney, CEO and co-founder of PopMenu, said that this situation it is because there are more and better offers from restaurants that represent significant savings for consumersbesides that the establishments are efficient.

The report says that 29% of consumers surveyed believe it is cheaper to order at restaurants rather than buy the ingredients needed to prepare a meal.

“With the increase in fuel prices, the economics between dining in a restaurant and using groceries to prepare a meal is no longer so different”he told Yahoo Finance.

In its most recent report, the Bureau of Labor Statistics revealed that generalized inflation reached 9.1% in the month of June, surpassing the 8.6% of May and 8.5% of March.

In year-on-year terms food had an increase of 10.4%while food eaten at home rose to 12.2% and those consumed outside of it experienced a rise of 7.7%

Among the products that suffered the most increases in the last month were cereals, bread and chicken with 2.5%, 1.6% and 1.5% respectively. However, at an annual level the increases were more aggressive with 14.2%, 10.8% and 17.3%.

Given the increases registered for months in the country, the survey, which collected information from more than 1,000 people during May 2022, said that 45% of consumers dine in restaurants at least twice a week.

Among the main reasons why people said they prefer to leave, beyond inflation, is because he prefers to live the experience of going to another place to eat, which was prohibited during the pandemic.

By indulging in certain “luxuries,” some Americans have strongly resented rising prices and have missed out on some sales events. Another report said that at least 24% of consumers did not shop on Amazon Prime Day.

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