Five fast food trends driving up prices – and expert says inflation isn’t the only factor

Fast food prices have risen noticeably, forcing consumers to shell out more money for what used to be considered cheap meals.

Several factors are at play, driving up fast food costs more and more – and inflation is not the only culprit.

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The cost of “limited-service meals and snacks” – which includes fast food – has increased 4.3% since last year, according to the Bureau of Labor Statistics (BLS).

The BLS also found that the cost of fast food increased 28% from 2019 to 2023, while the price of all items inflated 19% over the same period.

The US Sun discussed this rise in fast food prices exclusively with Bill Oakley, a food enthusiast and expert on all types of fast food, snacks and frozen foods.

Oakley is also a food influencer with over 41,000 followers on Instagram (@thatbilloakley) where he shares food reviews.

FAST FOOD FACTORS

The food expert noted that inflation is primarily responsible for rising fast food prices, but many other factors are at play.

“Fast food prices have gone up a lot, but only about five percentage points more than everything else has gone up,” Oakley said.

“We just notice the price of fast food more because the average person has a much better idea of ​​how much a Big Mac should cost, as opposed to how much a quart of maple syrup or a new set of snow tires should cost.”

Oakley noted other factors at work, including the cost of all the food.

This covers the price of food supplied to fast food chains, which the food expert said has risen dramatically during the pandemic due to supply chain issues and has not yet deflated close to 2019 levels.

Oakley also pointed out that some states have enacted minimum wage laws that make fast food labor more expensive.

“But remember, when you see these numbers about price increases, they are averages,” clarified the food influencer.

“A Big Mac in rural Arkansas is very cheap compared to an exorbitantly priced one on a busy Connecticut highway, but when you average those prices, the price seems high across the board.”

Oakley shared that the most notable price change he personally experienced was for “premium” burgers – specifically at Burger King.

He said a Fiery Bacon Whopper in his neighborhood would cost him $9.49 today.

Fast food prices have increased a lot, but only about five percentage points more than everything else has increased. We just notice the price of fast food more because the average person has a much better idea of ​​how much a Big Mac should cost, as opposed to how much a quart of maple syrup or a new set of snow tires should cost.

Bill OakleyFast Food Specialist

“Whenever a fast food burger goes for ten dollars, I think twice,” said Oakley, noting that a great way to save on fast food is to take advantage of food deals on chain apps.

THE FUTURE OF FAST FOOD

Although fast food prices have increased, the food expert highlighted that several chains have started to launch meal deals as consumers eat out less.

McDonald’s launched its $5 Meal Deal in late June, and Wendy’s, Burger King, Taco Bell and other popular chains followed suit.

However, he noted that most of these businesses merely “patch up a set of items that were already among the cheapest on the menu” as an attempt to lure consumers back to the chains to be sold on purchasing higher-margin items. .

Fast food meal deals

Taco Bell’s $7 Deluxe Cravings Box:

• Supreme Sloop
• Chunky five-layer burrito
• Double Stacked Taco
• French fries and nacho cheese sauce
• Average drink

McDonald’s $5 Meal Deal:

• McDouble or McChicken Sandwich
• Four-Piece Chicken McNuggets
• Small fries
• Small soda

Wendy’s $5 Biggie Bag:

• Junior Cheeseburger with Bacon or Crispy Chicken Sandwich
• Four-Piece Chicken Nuggets
• Junior fries
• Small soda

Burger King’s $5 Meal Your Way:

• Whopper Junior, Chicken Junior or Cheeseburger with Bacon
• Fries
• Four-Piece Chicken Nuggets
• Soft drink

Oakley predicted that fast food chains would likely not lower their prices in the future, but that many trends could increase prices further.

He listed labor costs as well as increased demand for sustainable products and healthy alternatives as examples.

The food influencer noted that one trend that could theoretically lower food prices was artificial intelligence in the drive-thru.

“But so far, the technology isn’t ready and all it would replace is maybe one or two minimum wage employees, so I can’t imagine it would reduce prices significantly,” he said.

In related news, fast food fans shared an “interesting theory” about rising prices, blaming DoorDash and Uber Eats.

A Chick-fil-A rival with 822 locations will implement AI in hundreds of its drive-thrus and promises it will “rival human employees.”