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A Holiday Feast Is Going to Cost You More. Beef Is Leading the Price Hikes.

·3 min read
A Holiday Feast Is Going to Cost You More. Beef Is Leading the Price Hikes.

Meats have led the rise this year in U.S. food costs, while prices for fresh fruits and cereals, including those made from oats, are also higher on the back of drought conditions in parts of the nation. Restaurant menu prices, known as “food away from home” prices, have outstripped the rise in “food at home,” or retail store prices, this year. There was a general “lack of flexibility” across restaurant menus, given higher labor costs and tighter inventories of specific items, says Isaac Olvera, lead food and agricultural economist at ArrowStream, a food-services industry supply-chain technology firm.