Inflation Forces Businesses To Raise Prices

The video discusses the impact of inflation on businesses across the U.S., focusing on a Florida restaurant. It highlights rising costs in rent, labor, and food, and how businesses are adapting by adjusting prices and using digital menus. A survey indicates that many executives expect inflation to remain high, affecting various industries. Supply chain issues contribute to inflation but are not the sole cause. The restaurant featured has increased prices but maintains a loyal customer base.

What are some of the cost factors affecting the Gallia St. Pete Tavern?

• Insurance and legal fees

• Technology and software costs

• Rent, labor, and food costs

• Marketing and advertising costs

According to the PWC survey, what percentage of executives expect to increase prices?

• More than 30%

• More than 60%

• More than 80%

• More than 50%

What is one of the reasons inflation is not expected to go away soon?

• Supply chain problems are the main cause

• Inflation is deeply rooted in the economy

• Inflation is only a temporary issue

• Inflation is caused by external factors

How is the Gallia St. Pete Tavern adapting to inflation?

• By hiring more staff

• By reducing the quality of food

• By expanding their menu

• By using a digital menu to adjust prices

What specific price increase is mentioned for the Gallia St. Pete Tavern?

• The price of beer increased by $1

• The price of wings increased by $4

• The price of burgers increased by $3

• The price of tacos increased by $2