[lost_soul]

Just anecdotally, we went out to eat at a place we hadn't been to since before the pandemic. Their prices have doubled. We spent $50 on lunch.

[nerdponx]

Is there such a thing in economics as "pent-up inflation"?

As in, the economy keeps rolling along with "shrinkflation"-like phenomena absorbing as much of the increase in inputs as possible, until it passes a tipping point (in this case propelled by Covid-related adjustments) and all of a sudden prices shoot up.

It would be interesting to see if there's any literature on this phenomenon.

[_huayra_]

I wish I knew if there was any lit on this, but I think the same way. When the cost to own a given size house is double the cost to rent that house (in some VHCOL places like Seattle that is true at the moment), eventually people are just gonna opt out and rent.

Anecdotally, I've basically opted out of any sort of food that I don't prepare myself. Although not immune, Costco has avoided the same level of inflation as other grocery stores and especially restaurants, so I just shop there and save money because the prices for prepared food has just gone through the roof.

[lamontcg]

"sticky prices" and "menu costs" might be terms you're looking for

[rsanheim]

That was probably closer to the real price if your lunch.

We’ve had a glut of restaurants all up and down the “star level” here in Madison, WI. I think that is true in many cities.

When you account for real wages and costs, many of those places shouldn’t and wont survive over the next few years. We don’t need 6 dollar burritos delivered for 15, and we don’t need five places found farm to table for 30 bucks a plate. If that means service and cooks and dishwashers have to work three jobs in that world, to hell with it.

[lamontcg]

We may finally be adjusting to the fact that it isn't reasonable for the average household to be paying someone else to make their food most days.

[pc86]

Milwaukee area checking in!

Has Madison seen an increase in restaurants compared to a couple years ago? I've only been here a year but in the last place I lived, almost everything seemed to shut down during COVID but as things eased up new places opened up to about 120% of the old capacity - the end result being everything seemed to have reduced hours because they couldn't get enough business to get enough staff. From what I've heard from friends it hasn't gotten any better. Plenty of restaurants but a lot of them are only open 2-3 days a week so you end up with servers et. al. having 2-3 part time jobs.

[etrautmann]

Yeah I’m seeing $20 sandwiches in NYC now.

[cookiengineer]

Just last week I've spent 20 bucks for 4 balls of ice cream. It felt like being mugged...

[jimmaswell]

Sounds like typical NYC to me, as someone from the rest of the state. Every time I've eaten in NYC it's been mediocre and expensive.

[fowkswe]

$20 is the new five

[mnholt]

Seeing the same things here, lunch is $25+ a person at casual sit down places. Some have even done away with lunch menus so you’re left with lunch portions for dinner prices.

[break_the_bank]

This has to be a major city right?

[ipaddr]

Feels like places trying to make up for any covid losses over the last few years.

[stjohnswarts]

prices for some food items have definitely doubled and restaurant sure haven't been shy about raising prices. My favorite chinese place has gone up 70% in a year. So much that I only go there once a month tops.

[jimmaswell]

Everything's been normal for me, or I just haven't noticed.

[irrational]

Same. This past week I went to a place where they are charging $18 for a chicken sandwich that used to be $8-9. I couldn’t believe it.

[akomtu]

Do they expect a 20% tip on top of it?