Higher restaurant prices make dining out pricey
(CNN)– If you’re planning a romantic Valentine’s Day dinner out be prepared to dig down a little deeper.
According to the January Consumer Price Index, the price of food consumed at restaurants is up 5% year over year.
That is significantly more than grocery prices which have jumped 1% by comparison. This is a complete reversal from last year where it was cheaper to dine out.
The shift could be attributed to higher pay. Restaurants are trying to attract and retain labor by raising wages and in turn increasing prices.