Retail Sales Show Reopening Boom at Restaurants May Be Ending

Inflation-adjusted spending fell for the first time since 2021
Consumers may be shifting back toward cooking more at home

WATCH: Consumer spending in the US may be starting to level off. The latest data actually shows inflation-adjusted spending falling for the first time since 2021. Simone Foxman reports.Source: Bloomberg

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By Matthew Boesler and Daniela Sirtori

June 15, 2023 at 4:45 PM UTC

This article is for subscribers only.

Consumer spending at restaurants in the US may finally be starting to level off following the pandemic-reopening boom, according to the latest data on retail sales and consumer prices.

Price increases for food away from home outpaced growth in retail sales at food services and drinking places in the 12 months through May, pushing growth in inflation-adjusted spending negative for the first time since early 2021, Bureau of Labor Statistics and Bureau of Economic Analysis figures published Tuesday and Thursday showed.