How it Started… How it’s Going: Fast-food prices soar under Biden | FOX Business

How it Started… How it’s Going: Fast-food prices soar under Biden | FOX Business

How it Started… How it’s Going: Fast-food prices soar under Biden | FOX Business

Fast food, once the bastion of affordable dining, is becoming a luxury for many Americans. Recent data reveals a staggering increase in fast-food prices, far outpacing inflation and wage growth. Since President Biden took office, the cost of dining out has risen by nearly 22%, hitting fast-food chains particularly hard. For instance, a Big Mac at McDonald’s that cost $3.99 in 2019 now demands $8.29, while a BLT Footlong at Subway has soared from $5.50 to as much as $8.49.

Executives in the fast-food industry attribute this surge in prices to rising wages and escalating ingredient costs. However, the reality is grimmer for consumers, with fast-food prices outstripping the average hourly earnings and inflation rates. As a result, 78% of consumers now view fast food as a luxury, especially those facing financial struggles, including lower-income individuals, parents with young children, and Gen Zers.

This financial strain is evident in the dwindling number of visits to fast-food drive-thrus, with 62% of respondents eating fast food less frequently due to its escalating cost. To combat this trend, some franchises are offering temporary bargains, such as McDonald’s $5 value menu and Wendy’s $3 breakfast deal. Moreover, many chains are leveraging mobile apps and loyalty programs to provide exclusive deals and rewards to retain their customer base.

However, despite these efforts, the surge in fast-food prices reflects broader concerns about the economy. President Biden has acknowledged these challenges, promising to address them by tackling housing costs, prescription drug prices, and grocery expenses…………..full-loaf-600x400-1-e1700879832480 How it Started... How it's Going: Fast-food prices soar under Biden | FOX Business[read more]

Rising Dough

Rising-Dough-e1700879911412 How it Started... How it's Going: Fast-food prices soar under Biden | FOX BusinessHow do escalating fast-food prices reflect broader economic trends, and what strategies can businesses employ to mitigate the impact on consumers without compromising profitability?

*Click on the “Full Loaf” icon to read the full article! After you read the full article, let us know your thoughts.

0 0 votes
Article Rating
stone-street-coffee-logo How it Started... How it's Going: Fast-food prices soar under Biden | FOX Business ☕️ **Discover Stone Street Coffee Company – Your Coffee Haven!** Today’s Dough readers, if you’re on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today’s Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street’s commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

Subscribe
Notify of
b046aa956dd60dd675482586cac84327?s=56&d=mm&r=g How it Started... How it's Going: Fast-food prices soar under Biden | FOX Business

0 Comments
Inline Feedbacks
View all comments

Share this content:

0 0 votes
Article Rating
stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x
×