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Full extent of price rises at Burger King McDonald's, Wendy's and Carl's Jr revealed: $20 combo a grim reality
No wonder Americans are getting fed up with fast food - a new report shows how much some popular combo meals have shot up in price.
Official figures show that annual inflation for the fast food sector is 4.8 per cent, but that tells only part of the story after years of rises, a report by USA Today shows.
Prices for a typical combo meal at the five biggest burger chains - McDonald's, Burger King, Wendy's, Carls Jr and Five Guys - have risen as much as 120 per cent in a decade.
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.
It is now surprise an astonishing four in five Americans think fast food is a 'luxury' because of how expensive it now is, a survey by Lending Tree showed.
And there is no doubt Americans have been voting with their wallets. In the first three months of 2024, visitors to fast food chains slumped by 3.5 percent on a year ago, according to data from Revenue Management Solutions.
How prices for meals at the biggest five fast food restaurants have gone up in price in a decade
In real terms, that is millions of Americans a week skipping the drive-thru - with chains themselves admitting higher prices have put off burger fans.
At Carl’s Jr, a Famous Star combo has jumped from $5.29 to $11.68 - a more than doubling since 2014.
In terms of a dollar amount, Five Guys - the priciest overall - went up more than $7 to $20.32.
McDonald’s - which has been the poster child for price rises, perhaps because it is the biggest - saw prices rise the least.
But they were still up 65 percent and a Big Mac meal is stll $15 in some areas.
Researchers surveyed the five chains in 18 areas across the US. They asked for the price before tax for each of the chain’s signature combo meals in a medium size.
So, for McDonald’s it was a combo meal built around the Big Mac, for Burger King the Whopper, for Wendy’s a Dave’s Single, Carl’s Jr the Famous Star and for Five Guys a cheeseburger.
The 2014 prices were obtained from menus from that year on the Fast Food Menu Prices website.
As well as showing how much prices have risen in ten years, the research showed how prices vary across the country.
At McDonald’s, Houston in Texas was cheapest for a Big Mac combo at $7.89. In Seattle it was almost $15.
Five Guys was also pricey in Seattle but most expensive in Chicago, Illinois. There, a cheeseburger, fries and a drink was $23.65. It was cheapest in nearby Indianapolis, Indiana. In fact, overall Five Guys was the most expensive.
There is hope that price rises are now over.
McDonald's had lower-than-expected sales for the first three months of the year - which it admitted was due to lower-income Americans being put off by higher prices.
So its CEO Chris Kempczinski promised better value for the rest of the year, saying the chain has to be 'laser-focused on affordability.'
Wendy's $3 breakfast deal he deal includes an English muffin and potatoes.
McDonald's CEO Chris Kempczinski said in an earnings call earlier in May: 'I think it's important to recognize that all income cohorts are seeking value'
McDonald's plans a $5 meal bundle from June 25. Customers will get a total of four items - either a McDouble or McChicken sandwich, small fries, small soft drink and four McNuggets.
Burger King has a similar $5 deal, while Wendy's has launched a $3 breakfast meal - as a fast food price war looks to be heating up.
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.