The latest Consumer Price Index (CPI) data shows that prices for food-at-home (grocery stores and supermarkets) rose by +2.2% in August — sequentially -50 basis points lower than July’s +2.7%. This +2.2% number for August compares with price for food-away-from-home (restaurants) that increased by +3.4% year-over-year in August (sequentially identical to July’s +3.4%). This marks the 41st month in a row for which restaurant pricing is outpacing grocery/supermarket pricing.

Earlier today (Wednesday, September 9th), Jersey Mike’s reported second-quarter net income of $37 million. This is a GAAP number, and includes one-time items. If one were to exclude: