The National Restaurant Association released optimistic data on Sept. 16, showing total eating and drinking place sales rose 1.2% in August after a modest gain in July.
For many restaurants, the data is a relief after months of rising commodity costs and declining consumer sentiment. But the data also showed that high earners continue to drive most foot traffic, while lower-income consumers remained squeezed by high gas prices. Inflation on food away from home is now also outpacing grocery prices, giving pinched diners a reason to stay home and cook their own meals.
