The significant increase in menu prices at McDonald’s, along with several other popular fast-food chains, has sparked considerable customer backlash and scrutiny. According to a research report by FinanceBuzz, McDonald’s has raised its menu prices by over 100% in the past decade, surpassing the rate of inflation in the United States by more than threefold.
Customers across various states have voiced their frustration over soaring prices, with instances such as a Big Mac meal priced at $18 in Connecticut and an Egg McMuffin priced at $7.29. The cost of a Quarter Pounder with Cheese meal has more than doubled since 2014, now standing at $11.99 compared to $5.39. Similarly, the McDouble sandwich has seen its price triple from $1.19 to $3.19, and a medium fries now costs $3.79, up from $1.59.
The iconic Big Mac, a staple of McDonald’s menus, has seen a 50% increase in its average price over the past decade, rising from $3.99 to $5.99. FinanceBuzz’s analysis revealed that McDonald’s was the most egregious offender among 13 restaurants surveyed, surpassing the national inflation rate by tripling menu prices.
Other fast-food chains, including Popeyes, Taco Bell, Chipotle, and Jimmy John’s, also raised their menu prices significantly above the inflation rate. Subway and Starbucks, however, managed to keep their prices relatively in line with inflation, with a 39% increase in menu item costs on average.
The research methodology employed by FinanceBuzz involved collecting data from various sources, including ItsYummi.com, FastFoodMenuPrices.com, and MenuWithPrice.com, and cross-referencing it with official restaurant websites. Inflation rates were derived from the Bureau of Labor Statistics’ CPI Inflation Calculator.
While acknowledging the challenges in sourcing historical data accurately, FinanceBuzz adjusted the data to provide a reasonable representation of national pricing trends for McDonald’s and other chains. McDonald’s franchisees’ autonomy in setting menu prices for individual locations adds complexity to the analysis, but the overall trend of significant price hikes across the fast-food industry is undeniable.
McDonald’s CEO Chris Kempczinski acknowledged inflation would drive menu price hikes, making dining out a luxury fewer could afford. He noted affordability shifting towards eating at home, particularly impacting low-income consumers.