While inflation appears to be easing for consumers overall, construction costs have gone up, according to rd+d readers. Costs are substantially higher year over year, according to 44% of rd+d readers participating in the magazine’s latest pulse survey. An additional 35% note that costs are somewhat higher year over year.
Just 12% of survey respondents said costs were about the same in 2023 as they were in 2022. And 8% of readers said they didn’t know because they’re not building this year. Just 2% said that costs in 2023 are less than they were in 2022.
rd+d’s ongoing research project periodically surveys qualified subscribers on the state of restaurant development and design. This survey was fielded in August 2023.