Americans are increasingly noticing higher prices for groceries and restaurants and are reacting by trading down.
That’s according to a new study by Yelp that analyzed user searches and reviews in the third quarter and found that more people were searching for affordable food and restaurant options as their angst over prices grew.
Year-over-year inflation actually eased slightly in the quarter after peaking at 9.1% in June, according to the U.S. Bureau of Labor Statistics, and gas prices came down. But September’s 8.2% inflation was higher than expected, and Yelp users’ price complaints grew louder during the period. Click here to read the full article from Restaurant Business.
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