Some research has found that raising the minimum wage has a modest impact on consumer prices. A University of California at Berkeley, study published last year examined online menu prices at nearly 900 restaurants in San Jose, Calif., before and after the city raised its minimum wage from $8 to $10 in 2013 and found an average price increase of just 1.45%.
But other studies find steeper price effects as the wage climbs higher. And as the price gap widens between eating out and eating in, some consumers may be more inclined to cook at home than pay $8 for a burrito they used to get for $6.. . . more