The BEEF PRICE HIKES continue. The economics are simple: supplies are tight (perhaps due to the Texas drought) and demand is high globally, especially with emerging middle classes in Brazil, Russia, India and China. That means we pay more. Last Friday, we reported on higher prices at Keith McNally's Minetta Tavern and Frankies Prime Meats in Carroll Gardens.
So it goes that Michael Lomonaco's Porter House, on the fourth floor of New York's Time Warner Center, has edged up the price of his steaks by a few bucks. As a result, four out of his six steak entrees (66%) are now in the $50 range. Based on a comparison with a September 2011 online menu, Porter House has hiked the price of its New York Strip by $2 to $51, with the same hike applied to the Chili Rubbed Natural Ribeye, now $51, up from $49. The skirt steak is up a buck to $32, so is bone marrow, up $1 to $16, and filet mignon tartare, up a dollar to $22. So is this a BUY HOLD OR SELL? Your call, world (also: Lomonaco hiked a few of his $10 side dishes to $12).