Friday, May 29, 2009

Outback Steakhouse Raises Prices 18%

I live my life on the run, so cooking is rarely an option. Somewhere around 50% I would guess is dinner out. But sometimes I'd rather just stay home.

But with little time to shop and the need for red meat, Outback Steakhouse has been a good answer for a quick fix.


My "usual" is a Victoria 9 oz filet, but I was really shocked to discover that despite the worst recession since the great depression they have increased the price on this tiny filet from $19.99 to $23.50. Yes that is correct 23.50 plus tax, no salad, no baked potato just the filet.

No doubt business is slow and they are trying to recover some of the lost revenue. However an 18% price increase is hardly justified.

Consider that USDA Prime filet is offered down the street at The Fresh Market for $18.99 a pound, of course it is uncooked but however good Outback's steaks are, they are hardly worth $41.00 a pound.

Agreed price increases are simply part of business in a growing economy, but with sluggish growth across the nation, the 18% price increase is well .... un-American.

Looks like I'll have to clean the grill this weekend.


JAT said...

Get ready for the coming hyperinflation, CD. As the "recovery" picks up, so will the velocity of money, basically the demand for cash and near-cash. Money that has been in "hiding" will appear and that together with the vast sums printed by the Fed will push inflation to at least double-digits.

Anonymous said...

Noticed the same thing CP! I also noticed the lack of cars in the parking lot.