Restaurants are finally taking price hikes off the menu
Inflation is
drifting down in fits and starts
, and so are restaurant menu prices.
Consumer prices were 2.6% higher in October than the same time a year ago, according to federal data released Wednesday, up slightly from September’s 2.4% annual rate. But while the “last mile” in the fight against inflation has proved slow going, dining out costs are moving in a more affordable direction.
The prices of food purchased away from home rose just 0.2% from September to October, down from 0.3% the previous two months, as restaurants ease up on price hikes. About 34% of operators told Toast that they’ve still raised prices over the past year, compared with 42% last year, the point-of-sale software provider found in
a survey
it released late last month.
“If you think back to ...