McDouble! McDonald's prices have doubled in ten years - far outpacing general inflation, report shows

McDonald's was once seen as an affordable spot to eat out but for many Americans it's meals have become a luxury.

In just 10 years, the average cost of a selection of its top menu items has doubled, according to a new study. Some items cost three times as much.

That is more than three times the official rate of inflation - the cost of goods has risen just 31 percent since 2014, according to the US Bureau of Labor Statistics.

Then, a Quarter Pounder with Cheese Meal and an Oreo McFlurry would set you back less than $8. Now, that combo would cost more than twice that at about $16.50.

In the rest of the US economy $8 in 2014 would be worth about $10.50 now.

Some menu items have gotten more expensive faster - a McChicken was just a dollar in 2014 but is now three times the price, according to FinanceBuzz, which gathered prices over time.

Medium fries have more than doubled in price, from $1.59 to $3.79 this year. A McDouble was $1.19 then but $3.19 now.

Other items have been less vulnerable to price hikes. The cost of a medium drink increased less than inflation - $1.29 a decade ago but still only $1.61.

It comes as photos of shockingly high prices at some McDonald's restaurants have gone viral, including a single Egg McMuffin for $7.29 and a Big Mac for $8.39.

Official inflation data is published by the Government and determines the size of Social Security and retirement benefits cost of living adjustments (COLA).

But the rate at which certain things actually become more expensive can differ from the official rate of inflation.

Famously, the Big Mac Index was created by The Economist as a relatable way to record changes in the buying power of different currencies.

It increased by around 34 percent between 2014 and 2024 - significantly less than the FinanceBuzz findings and only slightly higher than the official inflation of 31 percent.

Daniel Roccato, clinical professor of finance at the University of San Diego's Knauss School of Business, said fast-food price increases may start to slow. 'Consumers have reached a tipping point,' he told FinanceBuzz.

'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 added.

Neil Saunders, managing director of consultancy GlobalData Retail, told DailyMail.com this year that consumers are getting tired of the price hikes.

'The problem is that places like McDonald's were once inexpensive treats but are now becoming expensive luxuries. And customers are tired of perpetual price increases,' he said.

Fast-food prices are increasing because the cost of labor has been going up and demand is on the rise as people look to save money, according to Shubhranshu Singh, associate professor of marketing at Johns Hopkins Carey Business School.

'Due to increasing pressure to spend less, some consumers have also downgraded from full-service restaurants to fast-food restaurants, thus increasing the overall demand for fast food,' he told FinanceBuzz.

He also pointed out that fast-food coupons and deals have been on the decline as restaurants have had less need to incentivize customers. 

It is important to note that while the prices here are considered for a single store, McDonald's franchisees are given lots of autonomy in setting menu prices. 

FinanceBuzz collected additional historical data points related to McDonald's but applied some adjustments to create a reasonable representation of national pricing trends over time for the chain.

McDonald's questioned some of the prices in FinanceBuzz's report and added: 'Value is part of McDonald's DNA, and we're committed to offering customers great value through everyday affordable pricing plus special offers and deals on our app and through the MyMcDonald's Rewards program.'