Obviously someone has already provided data, but I want to make a broader observation about this kind of logic, because we are all guilty of this logical fallacy for the most part.

No data to support that, but I understand how businesses operate. 

Despite the notion that "common sense logic" is a reliable way of analyzing the world, it's actually problematic how often "common sense" is wrong.

In this particular example, it's easy to think "cost in, cost out" and presume the cost will be passed along, but pricing is much more complex than that.

Prices are set to maximize profits, but price increases reduce demand, and it will often be more profitable to eat some or all of the labor cost increase than to increase prices.

We can also see that the link between business cost and price point is not directly linked by looking at the businesses that increased prices under the guise of "inflation" when their costs had not gone up at all.

They simply had an excuse to increase prices because consumers were expecting price increases.

Businesses are greedy by nature and will work to make a profit, but not everything that hurts their profit margin is actually a negative impact to consumers and workers.