financetom
Business
financetom
/
Business
/
US diners to pay more for Mother's Day lunches, Wells Fargo says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US diners to pay more for Mother's Day lunches, Wells Fargo says
Apr 21, 2026 6:27 AM

April 21 (Reuters) - Americans taking Mom out to eat this Mother's Day should expect to pay more - but many will still go, according to a report from the Wells Fargo Agri-Food Institute Project released on Tuesday.

The restaurant bill for Mother's Day - the second biggest day for dining out after Valentine's Day - will reach $67 this year, up 4% from last year, when Wells Fargo credit card data showed an average spend of $64 on sit-down dining.

The cause is simple. "It's labor costs, everywhere you look," the institute's chief agricultural economist Michael Swanson said.

Wages make up the majority of restaurant costs and have risen 3.8% over the last year in the hospitality sector, outpacing overall wage growth and tracking closely with the 3.9% increase in menu prices, according to the Bureau of Labor Statistics and the Department of Agriculture. 

Food costs are also a factor. Beef prices are up 17% year-over-year, putting pressure on steakhouse menus in particular. Egg prices have fallen sharply, however, from a peak of $5.12 per dozen in April 2025 to $2.50 in February 2026, in a bit of relief for brunch spots.

Diners are still eating out, but sales growth has moderated from the industry's long post-pandemic surge, Swanson said.

Xavier Walton in San Antonio, who juggles a busy schedule working in property management along with classes for computer science, said that he has cut back from a period of time when he ate out nearly every meal.

He and his family, following tradition, plan to eat out after church on Mother's Day.

"Restaurants have become more of a luxury," he said. But for Mother's Day, "you just have to do it," he said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
-- Canada Banks: BMO Joins CIBC, TD and RBC In Decreasing Their Prime Rates by 25 Basis Points to 4.70%, Effective September 18, 2025
-- Canada Banks: BMO Joins CIBC, TD and RBC In Decreasing Their Prime Rates by 25 Basis Points to 4.70%, Effective September 18, 2025
Sep 17, 2025
03:18 PM EDT, 09/17/2025 (MT Newswires) -- Price: 179.10, Change: +0.48, Percent Change: +0.27 ...
MercadoLibre's fintech arm buys distributor of investment products in Brazil
MercadoLibre's fintech arm buys distributor of investment products in Brazil
Sep 17, 2025
SAO PAULO, Sept 17 (Reuters) - Mercado Pago, the financial arm of Latin American e-commerce firm MercadoLibre ( MELI ) , announced on Wednesday the purchase of Nikos DTVM, a Brazilian distributor of investment products, in a move that marks the fintech's first acquisition in the country. WHY IT'S IMPORTANT Mercado Pago was responsible for about 43% of MercadoLibre's (...
StubHub Stock Pops, Then Drops In NYSE Debut
StubHub Stock Pops, Then Drops In NYSE Debut
Sep 17, 2025
StubHub Holdings, Inc. ( STUB ) made its New York Stock Exchange debut on Wednesday, opening at $25.35 a share after pricing its IPO in the middle of its projected range. STUB stock is moving. See all the action here.  IPO Launch The offering, priced late Tuesday at $23.50 a share, brought in $800 million for the ticketing company, according...
Sector Update: Consumer
Sector Update: Consumer
Sep 17, 2025
03:18 PM EDT, 09/17/2025 (MT Newswires) -- Consumer stocks were mixed late Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.5%. In corporate news, General Motors ( GM ) is in early talks to renew its longstanding joint venture with China's SAIC Motor, Bloomberg reported....
Copyright 2023-2026 - www.financetom.com All Rights Reserved