Did anyone else notice something?
Prices have been going up.
There are fewer promotions going on.
Ordering takeaway meals at restaurants is the same price as eating there. This is despite their operating costs being drastically lower with rental rebates and having their employees’ salaries subsidised up to 75%.
Classic economic theory suggests that restaurants can reduce their prices to attract more customers. But most restaurants are choosing not to discount, and are probably hoping to preserve their pricing power. Some of us are also using home deliveries, which increases costs as we have to pay new parties, the delivery driver and the delivery company.
Higher prices now is probably just the start, and it goes to the root of the supply chain. Rice has reached a 7 year high in prices. A meat processing plant closed, and warned of a meat shortage. As Indonesia and