Taco Bell, McDonald's, and Dunkin' are raising prices. Here's how much more you're paying for coffee and food.
· Fast-food prices are rising across the industry.
· Dunkin', McDonald's, and Taco Bell have had 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 its menu by about 4% in June, a move the company said was prompted by increased wages for workers.
The average Chipotle meal will cost $0.30 to $0.40 more than it did before, and a spokesperson told Insider that the price hike would compensate for the recent wage increases for workers. In April, the fast-casual chain said it would raise average hourly wages to $15 an 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, analysts at Gordon Haskett said in a report released Thursday.
Analysts looked at 24 restaurant chains over the span of a year and found 17 of them increased prices, and price increases, on the whole, are growing in both size and frequency. Quick-service restaurants have made the largest increases, averaging 6% compared with 3% at fast-casual chains and 1% at casual chains. Most of these increases were implemented in March.
According to the Gordon Haskett analysis, the greatest price increases have been...
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