Prices Jump at Fast Food Restaurants

Prices at fast food restaurants have gone up — fast.

The Insider reported that prices have soared during the pandemic.

Chipotle said some of its increases can be attributed, in part, to raising wages for workers. The chain said in June it raised prices about 4% — pushing the average meal prices 30-40 cents higher.

“We think everybody in the restaurant industry is going to have to pass those costs along to the customer,” CFO Jack Hartung said in an April earnings call. He had also warned of coming price hikes.

According to analysts at Gordon Haskett, the biggest price jumps were 10% at Taco Bell, 8% at McDonald’s, and 8% at Dunkin’, followed by Chipotle, the Insider noted in July.

Starbucks is experiencing similar labor and cost pressures. It announced in October that its average hourly wage would rise to $17 by the end of 2021, up from $14. Baristas will get a 5% bump, and those who have been with the coffee chain for five or more years can apply for a 10% raise.

At McDonald’s, payroll costs were up 10% in 2021, while costs for the commodities that America’s leading fast-food chain pays were to go up 3.5% to 4% in the final months of 2021.

The chains have also been hit hard with increases in their costs for ingredients, the Insider pointed out.

Meat, poultry, fish, and egg prices went up year over year, the Insider reported, attributing the information to the Bureau of Labor Statistics.

Beef prices increased 20.1%.

And The Wall Street Journal reported that short supplies and escalating costs of chicken breasts and wings have forced some restaurants to add thighs and other dark poultry meat to their menus.

Meanwhile, business owners continue to complain they not able to find enough staff for their restaurants.

RELATED ARTICLES

US Citizen Abducted 6 Years Ago Freed

Jeffery Woodke, a Christian aid worker from the United States, was kidnapped by Islamic militants in Niger in October 2016. The US...

Here’s When John Fetterman Could Be Released From the Hospital

During the 2022 Democratic primary for the Pennsylvania Senate seat, then-Lt. Governor John Fetterman had a stroke. Despite needing weeks to recover...

James O’Keefe Returns After Sudden Departure

James O'Keefe, the founder and chairman of Project Veritas, was placed on paid leave by the board of directors, according to a...

KJP Buckles After Doocy Grills Her Over China – Linked Payments To Biden Family

Journalist Peter Doocy questioned White House Secretary Karine Jean-Pierre on Wednesday over the Biden family's connection to a Chinese energy firm. KJP...

Top Biden Diplomat Steps Down Suddenly

President Joe Biden proposed Karen Donfried for the position of assistant secretary of state for European and Eurasian affairs months after he...

First State to Ban Transgender Individuals From Using Public School Bathroom of Choice

Arkansas Gov Sarah Huckabee Sanders signed a law prohibiting transgender people at public schools from using the restroom that matches their gender...

YOU MAY ALSO LIKE…

LATEST POSTS ON THE DAILY ELEPHANT

Most Recent

US Citizen Abducted 6 Years Ago Freed

Jeffery Woodke, a Christian aid worker from the United States, was kidnapped by Islamic militants in Niger in October 2016. The US...

KJP Buckles After Doocy Grills Her Over China – Linked Payments To Biden Family

Journalist Peter Doocy questioned White House Secretary Karine Jean-Pierre on Wednesday over the Biden family's connection to a Chinese energy firm. KJP...

Top Biden Diplomat Steps Down Suddenly

President Joe Biden proposed Karen Donfried for the position of assistant secretary of state for European and Eurasian affairs months after he...

First State to Ban Transgender Individuals From Using Public School Bathroom of Choice

Arkansas Gov Sarah Huckabee Sanders signed a law prohibiting transgender people at public schools from using the restroom that matches their gender...

James O’Keefe Returns After Sudden Departure

James O'Keefe, the founder and chairman of Project Veritas, was placed on paid leave by the board of directors, according to a...

CNN Crew Robbed While Reporting on Woke City’s Rampant Crime

While covering the city's escalating violence, a CNN crew was mugged in San Francisco. On Friday, CNN journalist Kyung...