Full-Service Meal Prices Soar to Record Highs

Full-service meal prices hit a record high in April, while food away from home prices overall continue to rise, according to the Bureau of Labor Statistics’ latest consumer price index.

For the month, food away from home prices increased 7.2% over last year, up from March’s 6.9% increase. Full-service meal prices rose 8.7 percent over the previous 12 months, marking the largest 12-month increase since the index started in 1997. Limited-service meal prices were up 7% over last year.

The food index overall, which includes food at home, increased 0.9% in April, the 17th consecutive monthly increase, and now sits at 9.4% over last year. Overall inflation growth slowed slightly to 8.3%, down from the 40-year high of 8.5% in April.