CBS’s Red Lobster Story Buries Inflation Despite Being About Inflation

NIKKI BATISTE: In its bankruptcy filing, Red Lobster blamed failed or ill-advised strategic initiatives and increased competition within the restaurant industry. Red lobster's downfall comes at a time when eating out is more expensive than ever, with restaurant prices climbing higher and faster than grocery costs. In an effort to bring back inflation-weary consumers, McDonald's is planning to offer a $5 meal this summer, and Target has dropped prices on 5,000 items.

JILL SCHLESINGER: If you are in the business of luring people into kind of, “have a little bit of splurge”, these are not the times where people feel like they can splurge.