A new study has found that nearly 80% of Americans now consider fast food a “luxury” item as inflation continues to soar under Joe Biden‘s disastrous economy.
The report by FinanceBuzz shows that McDonald’s, Popeye, and Taco Bell have all significantly increased their prices due to inflation.
The increase is climbing “faster than grocery prices,” the Bureau of Labor Statistics said.
The survey, conducted by LendingTree, found that many Americans consider fast food an indulgence, with 50% saying they have cut back because they can’t even afford it.
“It really makes sense when you break it down because McDonald’s Big Mac — it’s now more than $8 when just a few years ago it was half that price. So according to FinanceBuzz it says that prices at McDonald’s have more than doubled 100% since 2014, Popeyes prices have jumped by 86%, Taco Bell doing the same, up more than 80%,” Kernstine stated.
“At Subway there’s no longer a foot-long for $5.”
“These prices have even outpaced inflation, the Bureau of Labor Statistics says that fast food prices have even climbed faster than grocery prices,” she continued.
“In a new survey by LendingTree they interviewed 2,000 people and nearly 80% of people say fast food is a luxury, more than 60% say they’ve cut back on eating fast food because of the prices. Many of those surveys say they see it as an indulgence because they are struggling financially, especially those making less than $30,000 a year.”
The Daily Caller reports: Kernstine went on to say many franchises are blaming inflation for rising coasts, and since Biden has taken office “the cost of eating out is up 22 percent.”
Along with rising prices some Democratic states, such as California, have raised minimum wage prices from $16 to $20 an hour, which is beginning to affect some chains as workers are either decreasing in hours or being laid off all together.
In an interview with Kernstine, franchise consultant Nick Neonakis told the outlet that robot service will be “the way of the future.”
“Primarily robotics technology [is] to start replacing people. You’re already seeing it with the kiosk ordering in a number of the different locations that are out there,” Neonakis stated.
“If you call that in front of the line, behind the line, where the food is being made, that’s the next thing that you’re going to see.”
“Robotic burger flipping, robotic fries, and so on.”
While Biden has continually stated that inflation is moving in the right direction, recent data from the consumer price index (CPI) shows that within April there was a 0.3% increase for the third month in a row compared to the second half of 2023 when inflation was heading down below 3%.
