Wow! In 10 years prices have surged..some more than 100%. This is far in advance of any 'inflation'.
Fast food..which is neither fast..nor good food...is not a necessity.
To analyze rising fast food prices, FinanceBuzz collected data for restaurants in the last decade and calculated how prices have gone up compared to inflation.
financebuzz.com
Key findings
- From 2014 to 2024, average menu prices have risen between 39% and 100% — all increases that outpace inflation during the given time period (31%).
- McDonald’s menu prices have doubled (100% increase) since 2014 across popular items — the highest of any chain we analyzed.
- Popeyes follows McDonald’s with an 86% increase, and Taco Bell is third at +81%.
- Menu prices at Subway and Starbucks have risen by “just” 39% since 2014 — the lowest among chains we studied. These are also the only restaurants where prices have risen by less than 50%.
How does fast food inflation compare to actual inflation?
According to the Bureau of Labor Statistics, the cost of goods has risen 31% since 2014. This means that $100 in 2014 dollars is worth $131 in 2024 dollars. Much of this change has happened in the last 5 years — inflation is up 22% since 2019. So how do the average menu price increases at popular fast food chains compare to those rates?
The restaurants we evaluated raised prices by 60% on average between 2014 and 2024. That means
they’ve raised prices at a rate nearly double the national rate of inflation.
Five different restaurants — McDonald’s, Popeyes, Taco Bell, Chipotle, and Jimmy John’s — raised their prices at more than double the actual inflation rate. McDonald’s raised prices so much that their average menu prices increased more than
three times the national rate of inflation.