Menu prices at US restaurants up 2.8% year-over-year in the year ending in August, NRA says; quick-service segment sees 3.3% rise, full-service restaurants see 2.6% increase
September 27, 2012
(Industry Intelligence Inc.)
– According to a National Restaurant Association (NRA) analysis of data collected by the U.S. Bureau of Labor Statistics, menu prices at U.S. restaurants rose 2.8% year-over-year in the year ending in August, Nation's Restaurant News reported Sept. 27.
The quick-service segment saw a 3.3% rise while full-service restaurants saw a 2.6% increase.
The price increases could have been much higher given the rising price of commodities, but restaurants are remaining cautious of still-lagging levels of consumer confidence, said Hudson Riehle, the NRA's senior vice president of research.
The primary source of this article is Nation's Restaurant News, New York, New York, on Sept. 27, 2012.