A trip to BK or Taco Bell or Arbys can set you back $30 or more for just two meals. And shrinkflation has hit my BK cheeseburger and it’s now about 1/3 of the size it used to be.
I recently talked about this on my own FB page and friends and family agreed that it’s crazy out there. I had posted about my husband’s trip to Wendy’s to get two chilis and two potatoes. It used to be our go-to meal when we wanted a cheap dinner because everything was a dollar – so it was a $4 dinner. This time, it was $16.28!!! That’s a lot to swallow. Literally. For way too much money.
A friend named Nancy said, “Went to Arby’s on Tuesday, 2 cornmeal breaded fish and fries, 2 shakes & 1 jalapeño bites = $25.00. And this is with coupons!!”
Another friend of mine named Kay said, “Las time we were at Wendy’s it was $23 for both meals.” Crystal said, “Culvers recently. 2 dinners and 2 shakes. $40.”
Groceries are astronomically high as well but the convenience of fast food is now being outweighed by the cost. Time is money and sometimes the money is worth being spent to gain time – but it’s getting to be a more rare occurrence these days that I’m choosing to buy fast food. Probably a good choice anyway for many reasons.
And it’s not just me. CNBC reports that Chipotle Mexican Grill and McDonald’s are saying that customers are trading down and visiting less because of inflation.
Still, McDonalds did okay thanks to those price increases, with their sales rising 3.7% in the second quarter. However, their $5.7 million in revenue did not meet expectations.
Customers are choosing cheaper menu items and visiting less often because they just can’t afford it. Even though fast food chains have usually done well during bad economic times, the Bidenflation we’re living in might be new territory with Fortune reporting that 61% of Americans living paycheck to paycheck.
Fortune also says that “the inflationary 2020s mean fast food just isn’t cheap anymore.”
In May, the Labor Dept. reported grocery store prices rose 11.9% over the past year and restaurants and fast food locations were up 7.4% over the same period. I contend those restaurant and fast food prices are much much higher than that. The government doesn’t tell us the truth about anything – especially lately.