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There was once a time when fast food restaurants were able to lure in hungry customers by offering a cheap alternative to traditional dining establishments. However, it’s hard to argue that’s still the case based on how prices have risen in recent years—and a closer look at the McDonald’s menu highlights what’s wrong with an industry that’s facing a bit of a reckoning.
There’s only so much companies can do to ward off the price hikes stemming from the inflation that’s a natural byproduct of every functioning economy. It’s easy to marvel at the fact that McDonald’s originally sold hamburgers for a grand total of 15 cents each when the first location opened up in 1940, but there’s only so much the chain could do to fight the inevitable passage of time.
Of course, anyone who remembers the glory days of the “Dollar Menu” that McDonald’s initially introduced in 2002 likely pines for a bygone era when you could roll up to the drive-thru with a $5 bill and still eat like a king, and it’s been increasingly hard to ignore the sticker shock that comes with ordering a meal at The Golden Arches nowadays.
As was the case with every restaurant chain, McDonald’s took a major hit during the pandemic but has seen its profits rise on a yearly basis since bouncing back. Hiking the prices of the items on its menu obviously isn’t the only factor that plays into that trend, but it’s pretty hard to argue it hasn’t had a central role.
If the numbers that FinanceBuzz compiled for a recent study are to be believed, McDonald’s has been the fast food industry’s most egregious offender when it comes to raising prices over the past decade based on a study that asserts they’ve gone up 100% (a.k.a. doubled) since 2014 (Popeyes is the second-worst at 86%, while Taco Bell takes the bronze with 81%).
The study says the McDouble would have set you back $1.19 a decade ago but now has an average cost of $3.19 (a 168% increase), while a medium fry has gone from $1.59 to $3.79 (up 138%) and the cost of a Quarter Pounder with Cheese meal is up 122% after going from $5.39 to $11.99.
If you’re curious, inflation has risen approximately 32% over the same span, so while you’re more than free to blame certain politicians for what McDonald’s is currently subjecting you to, it seems like internal decisions have played a bigger role than external factors.