McDonald’s, the iconic fast-food giant once known for its affordability and convenience, is facing backlash from customers over what many are calling “insane” price increases. Reports from FinanceBuzz indicate that prices at the golden arches have more than doubled since 2014, far outpacing the rate of inflation and leaving many patrons feeling the pinch in their wallets. Find all of the details below.
McDonald's Prices Have Skyrocketed Since 2014
According to FinanceBuzz, McDonald's has increased prices by more than 100% over the past 10 years. The price of a Quarter Pounder with cheese meal, for example, has skyrocketed from $5.39 in 2014 to a staggering $11.99 today. Similarly, the price of a beloved Big Mac has surged by 50%, jumping from $3.99 to $5.99. Even a humble 10-piece McNugget meal has seen a whopping 83% increase, climbing from $5.99 to $10.99 over the same period.
McDonald's isn't the only culprit in this pricing frenzy. FinanceBuzz reports that a slew of other fast-food chains, including Popeye’s, Taco Bell, and Chipotle, have raised their menu prices by an average of 60%, nearly double the national rate of inflation. However, McDonald's stands out as one of the most aggressive in its price hikes.
McDonald's clarified to the New York Post that pricing is set by individual franchisees and varies by location, customers remain unconvinced. A McDonald’s spokesperson dismissed the reported price increases as "not an accurate representation of historical or current pricing," attributing the discrepancies to "significantly inflated" figures.
However, FinanceBuzz defends its findings, acknowledging the challenges of sourcing accurate historical data due to the franchise model of McDonald's. Despite this, the website claims to have applied adjustments to create a reasonable representation of national pricing trends over time for the chain.
Despite the technicalities of pricing mechanisms, the bottom line for customers is clear: McDonald's meals are becoming increasingly unaffordable. Social media platforms are flooded with complaints from disgruntled patrons expressing shock and dismay over the exorbitant prices. "About a month ago I got a Big Mac, Quarter pounder deluxe, and 2 fries for $30. Insane," lamented one user. Another echoed the sentiment, stating, "It's why I don't eat there anymore."
Across the internet, many complain about a phenomenon (at McDonald's and other eateries) called "shrinkflation," in which smaller portion sizes cost more money.
All in all, dining at McDonald's at other fast-food restaurants is becoming an increasingly expensive affair. As the debate rages on, one thing remains certain: the days of the dollar menu are becoming a distant memory.
