Restaurants are making a comeback — for the third month in a row, bars and restaurants posted a jump in profits, reaching a lofty $67.3 billion according to the U.S. Census Bureau. With so many people eager to visit their favorite eateries in person following prolonged shutdowns, this number exceeds January 2020's high of $66.3 billion — a peak that came just before the coronavirus decimated the industry. Many restaurants shuttered permanently during the pandemic, and the industry as a whole dropped by a whopping 55%.
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While Americans are clearly spending, there is one caveat to the new numbers: Prices of menu items have increased too. If the sales numbers are adjusted for inflation, the industry is still 3% below its January results. And even major chains did not emerge unscathed ...
