Jeff Good, who co-founded three restaurants in Jackson, Mississippi, noted that he had to pay $27 for chicken wings, when the real cost is $34.
“We’re making a profit, we’re not making the profits that we’ll base it on calculating how restaurants price their wares,” Judd said.Fox and Friends First“Friday.” It’s expensive.
He noted that a lot of items are on a “continuous rise”, but “happily sometimes something falls” and gets a little break.
“But right now we’ve got sort of a perfect storm of demand, scarcity, the Ukraine war, bird flu, the supply chain, and it’s hard to be in our business,” he added.
About 18 months ago, a good 40 pound box of chicken wings was about $85, but now, the price can be around $150, The Orange County Register reported.
Good has also reportedly said that expenses for cooking oil and flour have nearly doubled in the past five months and indicated he is paying more for the business as well.
The outlet reported that the company that maintains their air conditioners charged a $40 fuel fee per visit. To deal with all the price hikes, Judd reportedly said he had to raise menu prices.
Judd, who has been in the restaurant industry for 30 years, told “Fox and Friends First” on Friday that he had never seen anything like this before.
He noted that he had encountered “seasonal problems” in the past.
“You might have a drought that would cause problems with romaine lettuce or field greens coming from the Salinas Valley in California. You might see something with the orange crop in Florida,” Judd explained.
“But to have something as universal and universal as this is really unheard of.”
He then said that because of the current situation, “we are doing everything we can to be decisive in our decisions, very frugal, but we are also very grateful that our customers really understand this.”
“I think since everyone goes to the grocery store and everyone goes and buys gas, they can see that everything is so expensive,” Good continued.
Earlier this month inflation was revealed refrigerated On an annual basis for the first time in months in April, it rose more than expected with supply chain constraints, the Russian war in Ukraine and strong consumer demand continuing to keep consumer prices near their highest levels in four decades.
The Labor Department said earlier this month that the Consumer Price Index, a broad measure of the prices of everyday goods including gasoline, groceries and rents, rose 8.3% in April from a year ago, less than the 8.5% year-on-year rise. in March. Prices jumped 0.3% in the one-month period in March.
Those numbers were above the headline 8.1% and the 0.2% monthly gain that economists at Refinitiv had expected.
The slight slowdown in inflation came last month with energy prices down 2.7%, led by a 6.1% drop in gasoline (which had risen by a staggering 18.3% in the previous month as a result of the Russo-Ukrainian war).
However, price increases were widespread: food prices jumped 1% during the month, marking the 17th consecutive monthly increase for this indicator. The largest monthly increases were in dairy products (2.5%, the steepest monthly increase since 2007), meat, poultry, fish and eggs (1.4%) and cereals and bakery products (1.1%).
Thursday’s record was 16 cents higher than the previous week, about 50 cents higher than the previous month and $1.55 more than the same time last year.
According to the AAA report, weak supply and increased demand led to higher gas prices.
“Where restaurants have to make adjustments to their prices,” Judd said. “I think the consumer is actually kind and we appreciate that because we’re just trying to do what we can do.”