A restaurant owner minced no words on the immense costs that are devastating his business as inflation continues to harm both owners and customers under President Joe Biden.
During the May 20 edition of Squawk Box, co-anchor Joe Kernen pointed to a specific case succinctly illustrating inflation’s devastating impact on Americans’ wallets. He prefaced his point by saying his guest Will Restaurants Investments Group Founder Brian Will’s “food costs have increased by more than 20% since 2023 and he has had to raise menu prices three times in the last year.”
Will noted that the inflation crisis spurred a 24 percent rise in his food costs, a 20 percent rise in his labor costs and a whopping 50 percent rise in maintenance costs. Kernen responded, “You’re like a microcosm. So costs are up and revenues down. It sounds like, it almost sounds like…
