In the 12 months through October, higher restaurant prices drove food prices above overall inflation, even as grocery prices were relatively low.
For the year, grocery prices rose 2.1%, according to Consumer Price Index data released Tuesday by the Bureau of Labor Statistics.
But menu prices were up 5.4%, driven largely by a 6.2% rise at limited-service restaurants, which include fast food and fast casual spots.
Many fast food and fast casual places say they’ve seen some benefit from customers trading down from pricier options.
Grocery prices rose 0.3% and menu prices rose 0.4% in that period.
Persons:
Anthony Behar, McDonald’s, Liu Guanguan, Rice
Organizations:
New, New York CNN, Bureau of Labor Statistics, BLS, McDonald's, AP, China News Service
Locations:
New York, California