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These Fast Food Brands Hiked up Their Prices the Most Amid Inflation

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These Fast Food Brands Hiked up Their Prices the Most Amid Inflation
Source: Pinterest

These Fast Food Brands Hiked Up Their Prices the Most Amid Inflation

Source: Pinterest

Due to the high inflation rate in the country, many fast-food chains have increased their prices to meet up with their expenses. Here are a few of them.

Fast-Food Prices Outpace National Inflation Rate 

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The prices of fast food have shot up in the past couple of years at an alarming rate, surpassing the national inflation rate. Fast food used to be cheaper and more affordable for those who did not have a lot of money to spare. However, this is no longer the case, as it is now cheaper to make homemade meals than to afford a fast food meal.

The Impact of the National Inflation

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According to the Federal Bureau of Labor Statistics, the cost of goods in the United States of America has risen by 31% since 2014. However, reports show that fast food prices are even higher. Since 2014, fast food prices have increased by about 60%, making it clear that this is almost double the country’s inflation rate. 

McDonald's Leads the Pack

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Undoubtedly, McDonald’s has seen the highest price surge since 2014. At an increase of 100%, the fast food chain’s prices are so high that people have made several public complaints. For example, a McChicken sandwich used to be $1, but now, it is $3! That is a 200% increase in price, and customers are highly dissatisfied with this change. 

McDonald’s 

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The famous McDonald’s Big Mac meal now costs over $18 in 2024. However, back in 2014, the meal cost less than $9! Therefore, it is understandable that the fast food chain continues to receive backlash online.

Many people complain that McDonald’s is now becoming a sort of luxurious restaurant instead of a regular, affordable fast food chain where people who earn less can eat their fill.

Taco Bell 

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Following closely behind McDonald’s with a high inflation rate is Taco Bell. This fast-food chain has increased its prices by 81% since 2014. Their popular Cheesy Gordita Crunch used to be just a little above $2, but now it is $4.99. Their Doritos Locos Taco was $1.39 back in 2014 but has now increased to $2.59 today. 

ALSO READ: Bad News for Staff as California Fast Food Chains Discover Ways to Bypass Raising Minimum Wages

Chipotle 

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Chipotle is another prominent fast-food chain that has increased its prices by a significant percentage in recent years. The average price increase of the restaurant is over 75%.

Therefore, their burrito, which used to be $6.75 in 2014, has now seen a price hike to over $10.50. The same goes for their extra guacamole, which is now $2.95 compared to its 2014 price of $1.80. 

Popeyes

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Chipotle and Popeyes have experienced similar price surges of 75% in the past ten years. Popeyes, which is very popular for its chicken sandwich, has now become very expensive for people who cannot afford to spend a lot of money on food.

The other items on Popeyes’ menu have also increased in price, making the restaurant less affordable for people. 

POLL—Should the Government Increase Taxes on the Wealthy To Reduce Economic Inequality?

Subway 

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Subway has been mindful of its price surges, and management has tried to keep this stable. However, the rate of increase still surpassed the national inflation rate at over 31%.

One thing that stands out with Subway is that the fast food chain did not increase the prices of all the items on its menu. Only some items, such as the Footlong Sub, saw increases in their prices. 

Starbucks 

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Starbucks has also tried to regulate its price surges over the years. This pitcher restaurant chain is at 31%, close to the inflation rate of the country.

Some of its most popular items saw significant price hikes, but the less popular ones have only been increasing slowly. Therefore, people who cannot afford the more expensive items like the Mocha Frappuccino can go for the Caramel Macchiato. 

Price Hikes Have a Significant Impact

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The impact of these price hikes on consumers cannot be overlooked. LendingTree carried out a survey to find out how consumers are feeling with these increases and results showed that almost 80% of the citizens now believe that fast food is a sort of luxury. Understandably, the people who are low-income earners make up the majority of the 80%. 

ALSO READ: Fast Food Industry Projected To Grow by $120 Billion Amid Inflation

How To Save on Fast-Food 

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While prices may continue to rise, people are beginning to find their way around these high surges. One can save more when they use fast food apps, which usually offer exclusive deals, or use credit cards that can help with cash-back deals. Another way to save money on fast food is to keep an eye out for huge discounts and special offers. 

 

Fast-Food Chains Feel the Impact

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Fast food used to be the go-to option for many people. However, these price hikes are turning fast food into luxurious dining, which many cannot afford.

Fast-food chains have also reported a huge decrease in the number of customers patronizing them. Therefore, many of these restaurants are trying to find new ways to bring back their customers without making losses in sales.

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