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Food prices are surging in grocery stores as well as on restaurant menus.

Last week, Chipotle hiked prices for menu items by about 4%, as the cost of labor and ingredients continues to rise amidst a spike in demand. Red Robin and Cracker Barrel have also increased prices by about 3%, The Wall Street Journal reported. The chains may be forced to further hike prices if commodity costs continue to inflate.

In May, US consumer prices hit their highest level in 13 years, jumping 5% from the previous year, as the cost of meat details ⇒

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