With fast food prices continuously on the rise, you might just need to take out a second mortgage to afford that next Quarter Pounder with Cheese combo.
Increasing fast food prices have been a hot topic of conversation on social media for quite some time now, and a new study from FinanceBuzz claims that the reality may be even more grim than we imagined.
According to the website's research, in the span of just 10 years, some cult-classic menu items like the McDouble sandwich from McDonald's have increased in price by as much as 168%. (All of a sudden that $18 Big Mac meal doesn't seem as shocking.) Similarly, the restaurant's 10-piece McNugget meal has increased by 83%, while an order of medium fries has increased by 138%.
Of all the fast food brands, McDonald's is the biggest offender—their menu prices have doubled since 2014. But a number of fast food spots aren't far behind: Popeyes is up next with an 86% increase, followed by Taco Bell at 81%.
A spokesperson from McDonald's refutes FinanceBuzz's claims, saying, "This is not an accurate representation of pricing at McDonald's restaurants." They also note that prices are determined by individual franchisees and will vary by restaurant.
To explaining how they arrived at these surprising numbers, FinanceBuzz admits that, "McDonald’s franchisees are given a high level of autonomy in setting menu prices for individual locations, which can make it difficult to accurately source historical data to compare to the present." The website says they collected additional data points and applied adjustments to create a reasonable representation of national pricing trends over time."
The McDonald's spokesperson claims that the 2024 prices in their study are significantly inflated.
There is good news for frappuccino and spicy Italian lovers, though: Menu prices at Starbucks and Subway have risen just 39% over the past 10 years. Not amazing numbers, but we'll take it.
Fortunately, there could be hope on the horizon. Daniel Roccato, MBA, CPM, a Clinical Professor of Finance, confirmed that "a tipping point" could halt skyrocketing fast food prices.
"The worst is behind because consumers have reached a tipping point. Fast-food operators have increased prices faster than the overall rate of inflation and that is especially hard on their core consumers. We won’t see prices drop but we can expect a pause," he shared with FinanceBuzz.
