Posts

Showing posts with the label inflation

Trading Economics: International trade, finance, labor stats, prices, from around the world

Image
On a business listserv, one librarian pointed out a good resource for global corporate tax rates, 2006 - current , a website called Trading Economics. But the page is great for so much more: There are real time currency and stock market data for all over the world. Plus it has data on several topics. For instance- Labor: Employed Persons, Job Vacancies, Minimum Wages, Payrolls, Population, Productivity, Retirement Age, Unemployment Rate, Wages Prices: Consumer Price Index, Export Prices, Inflation Rate, Producer Prices Also several other categories, including Markets, GDP, Money, Trade, Government, Business, Consumer, Housing, Taxes If you are involved in international trade or just want info for markets across the world, check out Trading Economics

Pricing Strategies in an Inflationary Market

As supply costs in the food and beverage industry are inflating at alarming rates, now is a good time for effective food service managers to revisit their menus and develop some pricing strategies to position them for continued success in the marketplace. Quite a few operators are rightfully concerned about recent price increases. Still, this actually provides a nice window of opportunity to make some changes to menu prices and actually increase profit. While I would like to provide a tried and proven formula food service managers could use for pricing their menus, the fact is that menu pricing is more of an art than a science. There are just too many different factors that come in to play and probably one of the biggest mistakes managers make is to price their menu offerings based on formula rather than thinking about some of these factors.Any business that is considering their menu prices should not only consider their supplier costs, but also a competitive analysis and some form of