Spectrum News: Americans spend more at restaurants than on groceries
UC economist says prices, end of pandemic contribute to shifts in spending
Americans spent more money at restaurants than at grocery stores in 2022, which partially can be attributed to rising food prices, a University of Cincinnati economist told Spectrum News.
Erwin Erhardt
According to the U.S. Census Bureau, Americans spent 20% more at restaurants than on groceries last year. With grocery prices up 8% compared to a year ago, some people have decided to spend less on groceries and opt for the convenience of take out or deliveries.
“It is a surprise in a way given the cost of food, but a trip to the grocery store has honestly gotten very expensive,” said Erwin Erhardt, PhD, an associate professor-educator of economics at UC's Carl H. Lindner College of Business.
Beyond the economics, Erhardt said, people wanting to socialize more following the COVID-19 pandemic also plays a role in the increased spending at restaurants.
“People are reconnecting, getting back out in some cases with people they haven’t seen in three years and I think once you break through and start doing that again you start enjoy going out again and I think that’s what’s going on,” he said.
Featured image at top: People eat together at a restaurant. Photo by Alex Haney on Unsplash
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
Prestigious green and gold accolades highlight UC Earth Day 2021
April 19, 2021
There’s no making light of the ‘Gold’ accolade recently earned by the University of Cincinnati’s Carl H. Lindner College of Business’ new home on campus.
UC’s summer semester offers students short sessions, flexibility
April 12, 2021
Coming into the summertime of 2020, Sumedha Kappagantula was considering ways to make the most her opportunities during what is usually a break from the academic rigor of her traditional school year. As a Biomedical Engineering major in the UC’s College of Engineering and Applied Sciences, Kappagantula is minoring in Chemistry and Biological Sciences, taking classes through the College of Arts and Sciences. She thought summer semester would be a great time to get ahead in her coursework, and move her degree forward.
UC garners sustainable, green campus success
April 19, 2021
University of Cincinnati Gold LEED certifications, student-involved energy-efficient programs and climate-friendly green technologies elevate UC to a national award-winning sustainable campus.
2021 University Recognition Ceremony honors student achievements
April 13, 2021
The University of Cincinnati recognizes students each year who have made significant service, leadership, and academic contributions to the UC community. These students exemplify the spirit of what it means to be a Bearcat.
Futuristic cars may soon take flight
April 28, 2021
The Cincinnati Innovation District and University of Cincinnati team up with partners in 1819 Innovation Hub DriveOhio, Cincinnati Bell and Microsoft to innovate with UC talent and help bring future innovation within reach in FlyOhio student challenge.
UC Day of Giving a success
April 28, 2021
University of Cincinnati Day of Giving’s 24-hour challenge was a tremendous success this year, raising $2,219,197 with 3,232 gifts. The fourth annual UC Day of Giving raised its most money to date with alumni, donors, students, faculty and staff joining together to support UC and UC Health.
'To make him proud was high on her list'
April 1, 2021
Alex Lewis lost her 82-year-old grandfather to Covid-19 just five weeks before her dream school showed up on the front steps of Roger Bacon High School to tell the senior that she has been admitted to the University of Cincinnati College of Nursing as part of a touching Decision Day surprise effort this year.
President picks exceptional talent
April 28, 2021
The University of Cincinnati 2021 Presidential Leadership Medal of Excellence Awards honor six undergraduate scholars for scholarship, leadership, character, service and the ideals of the university. Awardees are spotlighted for exceptional academics, creativity, community service and innovation.
Arts & Sciences graduate tapped as Mr. Bearcat 2021
June 8, 2021
Chase Morris, a College of Arts and Sciences graduate, is UC's 2021 Mr. Bearcat.
U.S. News top grad school rankings include several UC programs
March 30, 2021
Several graduate school programs at UC improve in latest U.S. News and World Report rankings, including from nursing, medicine, engineering, criminal justice, law and business.