McDonald’s Is Raising Menu Prices After Minimum Wage Increase And Customers Are Furious: ‘I Hope They Go Bankrupt’
November 17, 2023 by Julia DeKorte
McDonald’s is raising menu prices…again! Over the past two years, McDonald’s has increase the prices of almost everything on their menu, and this time they’re saying it’s because minimum wage is increasing.
This is not the first time customers have complained about menu prices at McDonald’s. Whether it be in a Reddit thread, viral TikTok, or Instagram post, customers are taking to social media to express their dismay, and this time is no different. Keep reading for more information.
McDonald’s increases menu prices after minimum wage increaseCalifornia Governor Gavin Newsom signed a bill on Oct. 13th to increase minimum wage for fast food workers to $20 by April 1, 2024. Less than three weeks later on Oct. 20th, McDonald’s CEO Chris Kempczinski announce that menu prices in California would be increased as a response. Though he hasn’t said specifically what the price increase will be, it’s coming, and it’s coming soon. “Certainly, there’s going to be some element of that that does need to be worked through with higher pricing,” he said in an earnings call.
In a different earnings call with investors, McDonald’s CFO Ian Borden said that even prior to the minimum wage increase, menu prices have been going up. In fact, by the end of this year, the price of menu items will have increased by 10% since the start of the year, and this isn’t even the first time they’ve done it.