indicatorThe Owl

Restaurant activity soars to a record high

Through the first four months of 2022, unadjusted sales were up by $816 million (+35.1%) compared to the same period last year

By Siddhartha Bhattacharya, ATB Economics 24 June 2022 1 min read

The revenue of Alberta’s restaurants and bars stood at an historic high as seasonally adjusted receipts at food services and drinking places rose $36 million (+4.2%) to reach $886 million in April.

Through the first four months of 2022, unadjusted sales were up by $816 million (+35.1%) compared to the same period last year. Relative to other provinces, Alberta’s year-to-date gain (in percentage terms) was third highest after Quebec (+48.9%) and Ontario (+45.4%).

Inflation continued to play a part in the increase, but was not the main factor. Over the first four months of the year, prices of food purchased from restaurants in Alberta were up only 3.0% while revenue surged 35.1% during the same timeframe.

Meanwhile, with monthly gains posted in every province and territory in April, national restaurant and bar revenue was up by $6.5 billion (+38.6%) on a year-to-date basis.

Despite inflation rates spiraling to highs not seen in decades across the country, looser public health measures related to COVID-19 continued to push restaurant and bar sales higher. We expect the story to be largely unchanged in May despite the overall consumer price index rising by a record 7.7% in Canada.

Answer to the previous trivia question: The lodgepole pine is the official tree of Alberta.

Today’s trivia question: What is the official grass of Alberta?

Restaurant and bar revenue in Alberta rose to $886 million in April

Restaurant and bar revenue in Alberta rose to $886 million in April


Economics News

Subscribe and get a quick daily snapshot of what’s happening in Alberta’s economy

Need help?

Our Client Care team will be happy to assist.

Chat now
ATB Virtual Assistant
The ATB Virtual Assistant doesn't support landscape mode. Please tilt your device vertically to portrait mode.