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WSJ: Grocery costs up 13.1%; restaurant prices up 7.6%
From today's
NumLock News
As of July, consumer prices at grocery stores were up 13.1 percent compared to 2021, while consumer prices at restaurants were up 7.6 percent. That 5.5 percentage point gap is the widest it’s been since the 1970s, and restaurants have been trying to capitalize on the idea that it’s a marginally better value to eat out than in than it was a year ago, even if there’s still a difference. Among the top-watched restaurant ads in the period May through August, iSpot found 58 percent highlighted deals and prices, up from 46 percent in the January through April period. Groceries are more likely to be affected by fluctuations in prices of raw materials than restaurants, where labor costs are a more significant factor in overall costs.
Heather Haddon, The Wall Street Journal