- Casual dining menu prices have increased 9% compared to 2021, while quick-service menu prices increased 7.3%. May 2022 has been deemed the third consecutive month the cost of full-service items have increased at a higher rate than limited service. Restaurant Study shared with QSR Magazine that inflation currently is the lead culprit which is increasing brands’ expenses up to 11.7% year-over-year.
Source: QSR Magazine. Read the full article here.
- The U.S. Department of Agriculture and other federal agencies will be investing up to $65 million to strengthen the food supply chain. The pilot plan they are launching will be using the American Rescue Plan funding in order to support agricultural employers in hopes of implementing better health and safety standards to promote a safe and healthy work environment for U.S. workers and workers hired from northern Central American countries.
Source: The Produce News. Read the full article here.
- The Centre of Research on Energy and Clean Air shared on Monday, June 13th, that China has overtaken Germany as the biggest buyer of Russian energy since the start of the war in Ukraine. Russia received around $97 billion in revenue for the sales of oil, natural gas, and coal since late February.
Source: The Indian Express. Read the full article here.