The USDA updates its food inflation forecast today, and restaurant prices are expected to increase by three to four percent over the course of 2011, thanks to increasing food prices.
Beef and dairy prices have risen particularly high, so it's no surprise that cheeseburger-happy chains like McDonald's, Jack in the Box and Cracker Barrel have already upped their menu prices in response.
· USDA Retail Food-Inflation Forecasts for 2011 [USDA]
· Food Inflation Accelerating as Restaurants React to Commodity Surge [Bloomberg]
A relic from McDonald's cheaper days. [Photo: chicagogeek / Flickr]