With inflation at a 40-year high, consumers across the country are feeling the pain. You’ll pay more for almost everything, including America’s favorite fast food meal – burgers, fries and soda.
According to a recent survey released by MoneyGeek, burgers, fries and sodas at McDonald’s — which sells more hamburgers than any other chain — cost around $6.19 this year. That is 11.5% more than in the previous year.
The same meal costs even more at Five Guys, $19.95 for the same meal, up 13.5% from 2021. That means some diners are feeling more than average inflationary pressures, according to MoneyGeek’s analysis of menu prices for 145 major and local Chains across the country the 50 largest cities of 2021 and 2022.
But the pain of paying higher prices for famous American food varies across the country, with diners in California and New York paying around $15. That’s twice what it costs in Texas, Kansas, and Oklahoma, where it costs about $7.
“Even the cost of simple meals has increased dramatically over the past year, and we can see that clearly by the fact that the average price of a burger, fries and a soda in the US increased 9% from 2021 to 2022,” he told Melody Kasulis, Director of Content Marketing at MoneyGeek.
“This price increase is evident in major cities like San Francisco and NYC, which top our list of most expensive burgers, fries and sodas at $15.30, closely followed by other major metro areas.”
What is behind this great chasm between the two coastal states and the rest of the country? Kasulis attributes the high price of quick meals to several factors, including a labor shortage in the hospitality industry and wage increases that are forcing fast-food restaurants to hike dinner bills.
“Combine that with all the other rising costs, and it all adds up to even more reason for conscious consumers to engage in some belt-buckling personal finance practices to avoid outrageous prices on what should be one of America’s most accessible dishes.” said.
But in most states, wage increases have very little to do with hospitality labor shortages and surpluses and more to do with wage increases and local government work orders, with California and New York leading the movement. For example, the minimum wage in California and New York is around $15 an hour, the highest in the country, while the minimum hourly wage in Texas and Oklahoma ranges from $7 to $7.50 an hour and is among the lowest in the country.
In addition, California and New York have introduced a number of laws, such as Labor’s “Fair Workweek” laws, that require employers to prepare work schedules for their employees in advance. Fast-food restaurants, a sector that employs many hourly workers, are hit particularly hard, ending up on the bill that Californians and New Yorkers pay for fast food.
https://www.ibtimes.com.au/minimum-wage-hikes-mean-unhappy-meals-california-new-york-1839462?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Minimum wage increases mean unhappy meals in California, New York