Squeezed Budgets Force Middle Class to Cut Back on Dining Out
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Less discretionary income due to high inflation and increased costs of basic necessities
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Americans have overspent on dining out for years instead of cooking at home
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Restaurants faced higher costs and raised menu prices, with pretax profits only around 5%
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Most restaurants added surcharges from 3-5% to help offset rising expenses
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With "tipflation," gratuity expectations have gone up putting further strain on diner's budgets