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Restaurant prices just had their biggest spike in 40 years

August 13, 2021

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Restaurants prices are increasing faster than they have in decades as labor and ingredients grow more expensive.

Pricing for dining out increased 0.8% from June to July this year, according to new data from the Bureau of Labor Statistics. Menu prices haven’t increased this sharply in years – the last time they reached this level was in February of 1981, Restaurant Business Online reported.

Prices seem to be increasing faster lately. Between April and May, they went up 0.6%, and increased by 0.7% between May and June. Restaurant prices increased more than the full consumer price index, which went up by 0.5% in July. Prices are up on a yearly basis too, at 4.6% over July 2020, according to BLS.

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