Menu prices expected to rise in 2012 due to higher food costs

Posted: January 17, 2012 in NEWS
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AFP RELAXNEWS
Monday, January 16 2012
Though you may feel full leaving the restaurant, your wallet is likely to feel lighter this year, as menu prices across the US are expected to rise in 2012.

According to industry publication Nation’s Restaurant News (NRN), a second straight year of rising commodity costs will force restaurant chains to pass on higher food costs to consumers by hiking up menu prices.

Coffee lovers have already been hit by price hikes this year, with Starbucks raising prices an average of about one percent in cities like New York, Boston, Washington DC, Atlanta, Dallas, and Albuquerque.

More than 150 restaurant operators participated in the survey, 67 percent of whom said they would be increasing prices in 2012. Of those respondents, 64 percent said the price hikes would range between 1 and 3 percent; 31 percent said they would hike prices between 4 to 6 percent; and six percent said they plan to raise prices by more than 6 percent.

Meanwhile, despite the uptick in prices, restaurant operators cited value pricing as their menu’s main focus this year. That was followed by improved food quality, the use of local or seasonal items, lower-cost food items and bold and spicy flavors.

SOURCE-NYDAILYNEWS.COM

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