>Price hikes at Ontario restaurants were widely expected in response to the increased minimum wage that Ontario’s then-Liberal government introduced in January 2018. But the above increases are more steep than what some industry watchers predicted.
>Late last year, Restaurants Canada predicted a four per cent rise in Ontario’s 2018 menu prices. The university researchers responsible for Canada’s Food Price Report 2018 forecasted a four to six per cent increase in Canadian restaurant prices this year, roughly in line with the rising cost of vegetables in grocery stores.
>Given rising and unpredictable food costs, Valente says that if he were starting out now, he’s stick to serving just pizza and pasta, and skip plates laden with veal, lamb and other meats. “Those protein costs are just crazy,” he says.
>“My dining choices have definitely changed,” he adds. Vong says he’s on the lookout for “better value … for quality eating and bang for your buck. I’m more focused on a real meal with decent, nutritious ingredients and less pretentious food options.”
>In Stittsville, Michael Blackie, the veteran Ottawa chef and co-founder of NeXT, has radically dropped many prices — and portion sizes — this month, so that no dish at his fine-dining destination is now over $20. The $38 12-ounce ribeye steak has been replaced by a $19, four-ounce ribeye. A $24 dish that included seven prawns is now a $17, five-prawn dish. The $29, four-scallop dish is now an $18, two-scallop dish.
>He adds that in the last year, NeXT, which is five years old, saw a 20 per cent drop in its restaurant revenues. “People are not spending the way they used to.”
Food prices are so astronomically high in Canada people can no longer afford to eat meat in restaurants. Canada's Oil price has collapsed from $60 to $10 in just 2 months - wiping out over 8% of Canada's GDP.
>globalnews.ca
