Americans Say Rising Costs Are Making it More Challenging to Dine Out [Video]

You don’t have to over-scrutinize your monthly credit card statements to know that food prices have increased dramatically over the past few years, and that’s true whether you’re eating at a sit-down restaurant, ordering fast food, or buying groceries so you can cook at home. According to the Producer Price Index, the wholesale cost of food increased by 22.4% between January 2020 and January 2024. Possibly the best illustration of these rising prices can be found in Trader Joe’s produce department, where the cost of one banana has jumped by 20% — the chain’s first banana price change in 25 years. 

Givex, a Toronto-based data analytics and customer engagement platform, has recently released the results of its annual Consumer Survey which, in part, looks at how rising food prices have influenced consumer behavior.

The company polled 1,000 Americans in April, and quickly learned that almost half (47%) of them are going out to eat at restaurants less …