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Analyst: Menu price hikes needed to offset Calif. wage increase

Maxim Group analyst says restaurants would have to raise prices nationally

With lawmakers poised to make California the first state with a $15 per hour minimum wage by 2022, restaurant chains nationally may be forced to raise menu prices up to 1.4 percent annually over the next five or six years to offset labor costs, a Wall Street analyst predicted Tuesday.

California Gov. Jerry Brown on Monday announced a landmark agreement between lawmakers and union leaders to phase in an increase t

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