Let’s face it – almost everyone enjoys a meal out from time to time, whether it’s from a fast food joint or a sit-down restaurant.
Let’s face it – almost everyone enjoys a meal out from time to time, whether it’s from a fast food joint or a sit-down restaurant. But have you noticed a hike in food prices on menus in Oakville, Burlington, or Milton?
According to Statistics Canada’s recently released Consumer Price Index, prices are up at table service restaurants, fast food and take-out restaurants, and cafeterias and other restaurants across the province.
By how much?
Statistics Canada says that prices have increased by an average of 3.7 per cent over the past year, from January 2017 to January 2018, and 0.9 per cent in just one month from December 2017 to January 2018.
- Province urging food delivery services to reduce fees for struggling restaurants
- Canadian Beer Day going virtual this year
- The Beer Store offering new delivery options for seniors
Food purchased from fast food and take-out restaurants saw the biggest jump, at a 4.4 per cent increase in menu prices over the past year, and a 1.9 per cent increase in menu prices in one month.
The menu price hike comes at an interesting time, as minimum wage went up this year from $11.60 to $14, too. Some reports indicate that these price increases are one way some restaurants are coping with the wage increase, particularly in the fast food industry.
You can check out the full Consumer Price Index here.