Menu prices continue to rise at a steady pace

Menu-price growth was remarkably consistent in recent months, according to data from the Bureau of Labor Statistics. Menu prices increased 3.0 percent in the 12 months ending February, which marked the ninth straight month with 12-month growth of at least 3 percent.

It also represented the 15th consecutive month of menu-price gains within a half-percentage-point range (2.8% - 3.3%).

Fullservice restaurant menu prices rose 3.4 percent in the 12 months ending February 2020, while quickservice prices were up 2.7 percent. The 0.7% differential was the largest spread by which fullservice prices outstripped quickservice prices in 13 years.

Growth in grocery store prices remained modest, edging up 0.8 percent during the last 12 months. Overall consumers prices rose 2.3 percent in the 12 months ending February 2020.

Track more economic indicators and read more analysis and commentary from the Association's chief economist Bruce Grindy.