Historic inflation forcing Georgia restaurants to raise prices, close
ATLANTA, Ga. (CBS46) - Georgia restaurants are facing their next major problem. Rising costs are now eating away at their bottom line.
The president of the Georgia Restaurant Association predicts another 3,000 restaurants could close by the end of 2022.
Owners are now being forced to raise menu prices an average of 10% in order to turn a profit.
The French restaurant named Atmosphere has served customers for more than 20 years. However, they were forced to sell their business last month. It’s becoming a common theme around town as inflation is taking its toll on many businesses.
The cost of doing business at the Crazy Cuban sandwich shop in Midtown Atlanta is also feeling the effects.
Restaurant owner Aldo Ramirez says that the “silly little lid” that everyone wants on their soda is a perfect example. A case of the lids used to cost between $30 and $40. now, it cost $154 per case.
Ramirez also says business is down about 25% and the only thing that is keeping the doors open is the fact that he also can’t find employees.
Inflation has reached a 40-year high and Atlanta has the 2nd highest rate in the nation -- 10%.
Georgia Restaurant Association President Karen Bremer says more than 4,000 restaurants closed during the pandemic and the future isn’t looking bright for those that are still open.
Most restaurants have been forced to raise their menu prices by at least 10% and that number is expected to go up. The best thing you can do to help your favorite places to stay open is to visit as often as you can.
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