Fast food is getting more expensive, and Americans are annoyed about it.
by Grace Dean
Business Insider
Fast-food chains have raised prices drastically in recent years — blaming everything from rising food costs and labor shortages to Russia’s invasion of Ukraine.
Because of this, some fast-food customers are starting to cut back and are opting to eat at home or switch to dine-in options, which are increasingly viewed as better value for money.
Sara Senatore, a restaurant analyst at Bank of America, told Business Insider that fast-food restaurants historically increased prices by about 2% yearly. At some restaurants in 2022 and 2023, they went up by double digits, she said.
As general inflation comes down, including for groceries, Senatore expects consumers to be even “less tolerant” of the price increases in the restaurant industry.