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It will be the first dive in dining-out
figures since 2004, when customers
spent an average of £10.61 on their
meal away from home.
Since then, the amount spent on
restaurant food has risen to £13.78,
according to the latest figures from
a firm of leading market analysts.
But, says Horizons managing director
Peter Backman, this year could see a
dramatic drop.
He tells Stir it up: “Spend has risen this
much over the four-year period largely
because customers have been willing
to pay more and because restaurant
operators have put up prices as a
result of the hikes they have seen in
staffing and fuel.
“But in this recession higher prices
cannot be sustained so in order to
maintain sales restaurants need to
reconsider their pricing strategies.”
The rise in food prices is now slowing,
with the level of food inflation at 9.7%
in April 2009 from its peak last
September at 13%.
Mr Backman adds: “We are beginning
to see menu prices falling, particularly
with the number of special deals and
offers currently in the market. The cost
of eating out is likely to continue falling,
at least until the end of 2009. Indeed,
restaurant bills could fall back to
2006 levels.”
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