Survey: Consumers Say Menu Prices Are Rising
More than half of consumers say menu prices at full-service restaurants are rising, according to a survey released on Wednesday by Technomic, a Chicago foodservice research and consulting firm.
However, restaurant operators say consumers exaggerate how much menu prices are increasing, the survey revealed.
Still, most consumers polled expect menu prices to jump more than 10 percent over the next three to six months and believe the highest menu price increases will come from large chains and upscale chains. More than half of consumers plan to frequent full-service restaurants less often as menu prices grow.
"While consumers often state one belief then act in a reverse manner, we believe that well over half of full-service consumers are looking for ways to reduce restaurant spending, and that many of them will succeed," said Tom Miner, principal at Technomic, in a press release.