Breezy Explainer: What is ‘lunchflation’ and how American workers are affected by it
American workers are facing Lunchflation as they are returning to working from offices after almost two years of working from home. Here’s more on the newest cause of worry for Americans going back to work. What is Lunchflation? Transitioning back to work from the office after almost two years of working from home is not […]
American workers are facing Lunchflation as they are returning to working from offices after almost two years of working from home. Here’s more on the newest cause of worry for Americans going back to work.
What is Lunchflation?
Transitioning back to work from the office after almost two years of working from home is not easy. Additionally, the rising prices of gas and food are making it more difficult. From a salad bowl to a sandwich, the price of lunchtime meals across the US is increasing. This trend, dubbed ‘Lunchflation’ is very real and affects several workers across the nation. Between January 2021 and 2022, the food producer price index increased by about 14.3 percent. Additionally, according to the National Restaurant Association, the average hourly wage among workers in the industry rose by 13.2 percent.
Why is lunch becoming costlier?
For example, Starbucks raised its prices in the US in October 2021 and again this year. However, it is expected to go higher soon. Similar trends are common in several restaurants and chains. Salad chain Sweetgreen increased its prices by 10 percent. According to several companies, the rise in prices is the byproduct of global inflation. According to a study by Square, a payments company, record-breaking prices are shocking people in several major US cities. As per the data, the average prices for a lunch sandwich and wrap rose by 14 and 13 percent respectively. Additionally, taco prices also rose, making customers pay 19 percent more than before.
“Restaurants have been among the hardest-hit businesses over the past few years, and now they’re facing rising costs across all parts of their business due to labor shortages and supply chain constraints,” stated Bryan Solar. Solar is the head of restaurants at Square. A Wall Street Journal report shows, that as a result of lunchflation, people found a rise of $4 to $10 in their usual lunch orders. While a packed lunch is always cheaper and healthier than eating out, the grass isn’t greener on the other side. Lunchflation is also affecting grocery prices. Grocery values show an 8.6 percent rise across the nation, the largest since 1981.
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