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Biggest surge in cost of eating out in 40 years

The price of eating out jumped 0.7% last month — a staggering pace not seen since 1981, inflation data out Tuesday shows.

Why it matters: Demand is soaring, but so are the costs restaurants and other food providers face — for ingredients, supplies and staff, which are all in short supply. The dynamic is playing out on the menu in the form of pricier meals.

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