Restaurant prices outpace inflation in NYC

Jennifer Steinhauer and Jo Craven McGinty of The New York Times used restaurant price information from Zagat Guides and the paper’s own reviews to show that “in 1994, the average one-star meal cost $33; it now costs a little more than $50, pushing it outside many people’s weekend budgets. That is a 51 percent increase, and even after adjusting for inflation, it represents an 18 percent increase.” As a result, New York is losing some of the good, cheaper eateries that existed 10 years ago.