date:Jul 23, 2014
Though the average increase was 6.25 percent to 6.5 percent, the increase varied by market and by menu item, said Monty Moran, co-CEO. So, for example, because of the significant recent inflation in beef and the expectation that beef prices will remain elevated for the foreseeable future, steak prices were raised by about 9 percent, on average, while chicken prices were only raised about 5 percent. We expected some customers would trade down from steak to chicken as a result of the higher steak