Food prices have risen in the last year, causing a cataclysmic decline in dining out. This is having a negative impact on the sale of wine in restaurants.
If you're a regular restaurant-goer, even to casual and reasonably priced restaurants, you are probably among those who are opting to avoid taking out a mortgage to continue dining out.
This is a major headache for restaurant owners, some of whom may have sown the seeds of their own ruin long ago by charging too much for wines when times were good. In many instances, prepandemic wine pricing was not in diners' favor either.
Updated: Tue May 07, 2024