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IPFS News Link • Business/ Commerce

Who ordered the $115 steak? Inflation sends NYC restaurant prices soaring

• by Steve Cuozzo

Roast chicken for $40. Halibut for $50. Pasta dishes starting at a whopping $42. Rampant inflation has landed with a splat on Big Apple restaurant menus, and it's taking a big bite out of customers' wallets.

The cost of eating in a "midmarket" Manhattan restaurant has soared. Remember when appetizers typically cost $15-$25, with entrees in the $20 and $30 range? Based on my own experiences and owners' estimates, New Yorkers going out for a meal should be prepared to pay 20% more across the board.

That's a lot more than the 8.6% leap in consumer goods prices as reported by the US Bureau of Labor Statistics, resulting in a bill that can shock even fortunate expense account eaters.

The escalation shows up in my every restaurant meal these days, from neighborhood diners to the priciest luxury spots. My usual party of four, accustomed to paying $400 before tip (including one cocktail or glass of wine each) for a "midrange" dinner, now routinely coughs up $500.