Restaurants are under threat as costs skyrocket and consumers cut back

Ike’s Chili in Tulsa, Oklahoma, faces rising costs and declining consumer spending as it approaches its 118th year. Beef prices surged nearly 21% since 2013, while overall food costs rose 21% in four years. Restaurants struggle with staffing shortages and cautious consumers, leading to weaker sales growth. Many eateries are forced to reconsider pricing and menu options to survive.

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