Restaurant chains expect to raise menu prices
A vast majority of restaurant chain operators said they expect to raise menu prices during the balance of the year, according to a new survey by SpenDifference.
Denver-based SpenDifference found that more than 90 percent of respondents said they plan to hike menu prices this year, projecting an average increase of 1.6 percent. One-third of respondents said they plan to raise menu prices 2 percent or more.
The operators’ sentiments contrast with the first quarter of 2013, when restaurant chains largely resisted raising prices. SpenDifference completed the survey the week of May 13 and found that 64 percent of respondents kept prices flat or raised them only 0.5 percent in the first quarter.
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[ Reposted with permission from Nation's Restaurant News ]