Restaurant Prices Climb

Posted by Chad Vorthmann on Oct 28, 2011 in Ag/Food Industry, Markets | 0 comments

Many restaurants are preparing to increase prices, cashing in on the fact that consumers have grown used to paying more for food at the grocery store.

Dining out cost 2.6 percent more in September compared to the prior year; while food prices at supermarkets were 6.2 percent higher than one year ago, according to the latest report from the Bureau of Labor Statistics. The inflation rate for food consumed at home has accelerated faster compared to the cost of dining out over the last year; the gap between the two types of inflation reached its widest since 1990 last month.