How Much A Full Steak Dinner Cost In The 1960s Vs 2026

Inflation is a beast. In just the last decade, a steak that might cost $20 on a menu would cost around $28 at today's prices. But when you stretch out those inflation numbers — say 60 years or so — it's shocking to see the price differential. Whether you're buying meat from a grocery store, chain restaurant, or high-end steakhouse, the brutal effect of inflation since the 1960s is something to see.

Starting with grocery store prices, imagine your store-bought steak dinner includes a sirloin steak, baked potato, and asparagus. According to U.S. Department of Labor data compiled by the St. Louis Fed, you could buy a 1-pound sirloin steak for about $1.52 in 1965 (in Boston). The retail price of potatoes was around 9 cents per pound (per Bureau of Statistics, Treasury Department data), and a pound of asparagus sold for around 39 cents. All of that means a nice, home-cooked steak dinner for two would cost less than $5. The same meal today would run around $35 when you factor in the sirloin ($17 per pound), potatoes (90 cents), and asparagus (around $3).

Moving on to the chain steakhouses — the choice of many families seeking a steak dinner on a budget. One of the more popular steakhouses in the 1960s was Bonanza Steakhouse (which merged with Ponderosa Steakhouse in the 1980s), and menus from that era show how far prices have come since then. The sirloin strip meal came with an 8 ½-ounce sirloin, a salad, potato, and toast — all for just $1.99. Diners looking for something more filling could get a 16-ounce T-bone steak — with the same sides — for $3.59. In 2026, a similar meal at Texas Roadhouse runs around $17.

But what about the fancy steakhouses in the 1960s? These were, and many still are, the crème de la crème of fine steakhouse dining. One of the most iconic from this bunch is Peter Luger in New York City, which opened in 1887 and is one of the oldest steakhouses in the U.S. Today, you'll spend about $68 for a single steak and around $136 for a "steak for two." Side options — such as fried potatoes, creamed spinach, and sauteed broccoli (all portioned for two guests) — cost between $16 to $18. So a simple meal for two with a steak and a couple of sides will easily cost around $200 after tip.

Back in the 1960s, that single steak at Peter Luger cost only $6.50, and the shareable steak for two would set you back just $13. Sides cost between 50 and 60 cents. In all, that dinner would run for around $20 after tip. If you're doing the math at home, that dinner costs you 10 times as much as today. Interestingly enough, the $20 steak dinner — adjusted for inflation — comes to around $200, give or take, which means Peter Luger's prices haven't outpaced inflation by that much.

Bottom line: Inflation pretty much sucks. But it's just a reality of how money works over time. So whether you cook at home, are heading out for a casual date, or looking for a true fine dining steak dinner, today's prices might make you do a double take — especially when you compare them to a 1960s menu.