Menu prices rose at an accelerating rate in May, with customers typically paying 7.4% more for an item than they did a year ago, according to new government figures.
The year-over-year increase was the sharpest upswing in restaurant prices since 1981, the U.S. Bureau of Labor Statistics (BLS) noted in updating the Consumer Price Index (CPI).
The rise was particularly sharp for full-service establishments, with charges running 9% above year-ago levels. Prices at limited-service restaurants, where labor expenses are usually lower, increased year to year by 7.3%. Click here to read the full article.
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