Dear MEL Topic Readers,
Michelin-starred restaurant closes because it’s too expensive
Michelin stars are an annual restaurant rating system used by the red
Michelin Guide to grade. According to the Guide, one star signifies "a
very good restaurant using top quality ingredients", two stars are "refined
and inspired food that is worth a detour", and three stars mean "superlative,
exceptional cuisine like art that is worth a special journey". Once Michelin-starred,
the restaurant becomes very popular among gourmet dinners and tourists and its
tables are hard to book. However, recent inflation has hit the cost of
operation too hard on a Michelin-starred restaurant that has been in business
for 26 years in Belfast, Northern Ireland, and made the doors closed. The
inflation rate in Northern Ireland has been on an upward trend in recent years.
In 2021, the inflation rate was 3.3%. In 2022, it rose to 4.8%. And in 2023, it
is expected to reach 6.7%. The rise in inflation has had a significant impact
on the cost of living in Northern Ireland. The price of fuel, food, and other
essential goods has risen sharply. This has put a strain on household budgets
and has made it more difficult for people and businesses to make ends meet, including
this prestigious Michelin-starred restaurant. A small yet high-profile victim
of the rising prices and labor costs.
Read the article and learn about how inflation impacts
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