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Depressing number of Americans now consider fast food a luxury
Once considered an American staple, fast food items have now turned into a luxury with a majority of people saying they can no longer afford to buy the quick meals.
A new LendingTree survey shows that due to rampant inflation, 62 percent of the people surveyed say they are barely eating at fast food chain restaurants.
Notably, about 78 percent of consumers now view fast food as a luxury - especially those who are less than $30,000 a year, parents with young children, Gen Zers and women.
Official figures show that annual inflation for the fast food sector has been 4.8 per cent.
About 78 percent of consumers now view fast food as a luxury - especially those who are less than $30,000 a year, parents with young children, Gen Zers and women
How prices for meals at the biggest five fast food restaurants have gone up in price in a decade
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.
More than half of those surveyed agreed fast food should be cheaper than eating at home while another 46 percent say fast-food restaurants cost similarly to their local sit-down restaurant.
At Carl’s Jr, a Famous Star combo has jumped from $5.29 to $11.68 - more than doubling since 2014.
In terms of a dollar amount, Five Guys - the priciest overall - went up from $7 to $20.32.
A TikToker named Natalie Hyde revealed in March that she was asked to pay $17 at a McDonald's drive-thru for three simple Filet-O-Fish sandwiches for her and her husband
A viewer who saw Hyde's video also commented 'Medium fry is $4.28!!! With tax!!' while another revealed: 'One time I ordered three McDoubles and a basket of fries it was like $20 I was what. Even four hot fudge Sundays was like what $16'
But customers were most shocked when they realized that a meal costs over $10 in some parts of the country - a complaint that has been vocalized by many online.
A TikToker named Natalie Hyde revealed in March that she was asked to pay $17 at a McDonald's drive-thru for three simple Filet-O-Fish sandwiches for her and her husband.
A viewer who saw Hyde's video also commented 'Medium fry is $4.28!!! With tax!!' while another revealed: 'One time I ordered three McDoubles and a basket of fries it was like $20 I was what. Even four hot fudge Sundays was like what $16.'
TikTok influencer Bella Rose also posted a video about the jacked-up prices and told her viewers that a Subway's $5 footlong sandwich (12 inches) is now $5.69 for six inches and $8.69 for an entire footlong.
She said that the entire reason for the hike was due to uncontrolled inflation in the past decade.
TikTok influencer Bella Rose also posted a video about the jacked-up prices and told her viewers that a Subway's $5 footlong sandwich (12 inches) is now $5.69 for six inches and $8.69 for an entire footlong
Another research has shown how much prices have risen in ten years and how they 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.
CEO Chris Kempczinski has promised better value for the rest of the year, saying the chain has to be 'laser-focused on affordability.'