Menu-price growth remains in the 3 percent range

Menu prices continue to rise at a steady pace, according to data from the Bureau of Labor Statistics. Menu prices increased 3.0 percent in the 12 months ending March, which represented the tenth consecutive month with 12-month growth of at least 3 percent.

Grocery store prices rose 1.1 percent during the 12 months, their strongest gain in nearly a year. Overall consumer prices were up 1.5 percent during the last 12 months, their smallest gain in more than a year.

Core inflation – which strips out food and energy prices – checked in at 2.1 percent during the last 12 months.

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