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Data Shows McDonald’s Prices Have Doubled Since 2014

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Data Shows McDonald’s Prices Have Doubled Since 2014

Data Shows McDonald’s Prices Have Doubled Since 2014

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In the last ten years, McDonald’s menu prices have undergone significant hikes, surpassing the rate of US inflation by more than three times.
A research report revealed the notable rise in costs for consumers seeking fast food options. Customers have been vocal in the past about the high prices, showcasing a dramatic shift from previous pricing standards.

The Rising Cost of a Classic Meal

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A typical example of the price surge is the Quarter Pounder with Cheese meal. Buying one now costs $11.99, a steep increase from the $5.39 it was priced at in 2014.
According to a study conducted by FinanceBuzz, this example highlights the broader trend of rising costs across the menu. The study highlights the nationwide average prices, illustrating the inflation in the cost of dining at McDonald’s.

Evolution of McDonald’s McDouble Price

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Another significant price hike is seen with the McDouble sandwich. In 2014, it was previously priced at an average of $1.19, but it now costs $3.19.
That is a nearly threefold increase in price, and it is indicative of the broader trend affecting the entire menu, including sides like medium fries, which have risen from $1.59 to $3.79 within the same timeframe.

The Big Mac Also Had a Price Increase

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The famous Big Mac’s price has also seen a notable increase, rising by 50% over the last decade. As of today, the average price of a Big Mac has gone from a manageable $3.99 in 2014 to $5.99.
This statistic is a part of the analysis conducted by FinanceBuzz. It examined the pricing trends of McDonald’s and other restaurants over the last decade.

Comparative Analysis of Restaurant Price Hikes

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According to FinanceBuzz’s analysis, McDonald’s is one of 13 restaurants that have significantly raised their menu prices in the last decade, with an average increase of 60% between 2014 and 2024.
This rate is almost times two the cumulative national rate of inflation, which stands at 31% over the same period.

Competitors’ Price Hikes

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The study further found that aside from McDonald’s, other fast-food chains like Popeyes, Taco Bell, Chipotle, and Jimmy John’s have raised their menu prices at more than double the rate of actual inflation.
The comparison provides a broader view of the pricing trends within the fast-food industry.

Subway and Starbucks Are Relatively Stable

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In contrast to the steep increases seen at McDonald’s and other fast-food chains, Subway and Starbucks have been able to keep their price hikes relatively in line with inflation.
The average cost of their menu items has risen by 39%, a rate more in line with overall inflation trends.

Increased Cost of McNuggets and McFlurries

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The price of a 10-piece McNugget meal has increased by 83%, moving from $5.99 to $10.99. Similarly, the cost of an Oreo McFlurry has nearly doubled, going from $2.39 in 2014 to $4.49 today.
These examples further illustrate the significant price hikes that have marked the past decade.

Methodology Behind the Research

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FinanceBuzz’s study used data sourced from websites like ItsYummi.com, FastFoodMenuPrices.com, and MenuWithPrice.com.
The research team collected prices for 10 menu items from each restaurant for the years 2014, 2019, and 2024, cross-referencing this data with each restaurant’s official website to ensure accuracy.

There Were Challenges 

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Collecting historical data was challenging due to the autonomy McDonald’s franchisees have in setting menu prices for individual locations.
FinanceBuzz acknowledged these difficulties and, in response, adjusted its data to create a reasonable representation of national pricing trends over time for the chain.

McDonald’s CEO on Price Increases

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In recent weeks, McDonald’s CEO Chris Kempczinski has admitted that the fast-food chain’s menu is becoming increasingly out of reach for Americans dealing with high levels of inflation.
According to him, inflation would compel the fast-food chain to raise menu prices, acknowledging the financial pressures facing consumers.

Minimum Wage Increases and Its Impact

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In California, there is a new minimum wage law that raises hourly pay for fast-food workers to $20 an hour, and some McDonald’s franchisees have cited this new law as a reason for further hikes in menu prices.
The law, signed by Gov. Gavin Newsom, adds another dimension to the discussion on the rising costs of fast food and what it means for both consumers and businesses.