Summary Box: Wendy's says higher prices coming

AP News
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Posted: May 10, 2011 1:36 PM
Summary Box: Wendy's says higher prices coming

HIGHER BILL: Wendy's/Arby's Group Inc. said Tuesday that it plans to raise menu prices as it deals with the rising costs of beef, bacon, cooking oil and other ingredients.

WHAT IT MEANS: Companies of all industries have been raising prices this year, saying they are paying more for commodities and have to pass the cost along to customers. The company already raised prices late last year and in March.

BOTTOM LINE: Wendy's now expects commodity costs to rise 5 to 6 percent this year, up from previous predictions of 2 to 3 percent.