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Bobby Flay: I don't want to scare the consumer away
Rising food prices, harsh weather and a jobs slowdown have all been cited as key factors in a slowing economy. Those factors are taking their toll on the restaurant business, too, chef and restaurateur Bobby Flay told CNBC's " Closing Bell ."
"I think consumer spending is OK," he said. "I have some higher-end restaurants and my check average is $60 or $70 a person. Then I have my burger chain, Bobby's Burger Palace. That check averages $10."
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While across the board he's seeing foot traffic in his restaurants, Flay admits that labor costs have gone up, and food costs are going through the roof.
"It's a lot harder to make it in the restaurant business," he said. However, he insists that food inflation will not be reflected on his menu.
"You have to take a loss when a loss is given to you," he said. "I don't want to scare the consumer away by raising prices."
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-By CNBC's Crystal Lau
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