Fast food has gotten way more expensive in the last year
· Fast food prices are rising across the industry.
· Dunkin', McDonald's, and Taco Bell have seen the biggest increases, according to analysts.
· Shipping issues, labor shortages, and weather events all contribute to rising prices.
Mary Meisenzahl, Business Insider
Jul 15, 2021
Prices at fast-food chains will continue to rise as ingredients and labor grow more expensive.
Chipotle raised prices across the menu by about 4% in June, a move the company says was prompted by increased wages for workers.
The average Chipotle meal will cost 30 to 40 cents more than it did before, and a spokesperson told Insider that the price hike will compensate for the recent wage increases for workers. In April, the fast-casual chain said it would raise average hourly wages to $15 per hour by the end of June, an increase of $2 over the $13 an hour average pay.
Nearly every fast food and fast-casual chain will likely follow, according to analysts at Gordon Haskett in a report released Thursday.
Analysts looked at 24 restaurant chains over the span of a year and found 17 of them are currently running price increases, and price increases, on the whole, are growing in both size and frequency. Quick service restaurants have seen the largest increases, averaging...
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