Five fast food trends pushing prices higher – and expert says inflation isn’t the only factor

FAST food prices have notably increased, forcing consumers to dish out more cash for what used to be considered cheap meals.

Several factors are at play, driving fast food costs higher and higher - and inflation isn't the only culprit.

The cost of "limited service meals and snacks" - which encompasses fast food - has increased by 4.3% since last year according to the Bureau of Labor Statistics (BLS).

The BLS also found that the cost of fast food rose by 28% from 2019 to 2023, while the price of all items has inflated by 19% over the same period.

The U.S. Sun discussed these hiked fast food prices exclusively with Bill Oakley, a food enthusiast and expert in all things fast food, snack food, and frozen food.

Oakley is also a food influencer with over 41,000 followers on Instagram (@thatbilloakley) where he shares food reviews.

FAST FOOD FACTORS

The food expert noted that inflation is mainly to blame for spiked fast food prices, but many other factors are at play.

"Fast food prices have risen a lot, but only about five percentage points more than everything else has risen," said Oakley.

"We just notice the price of fast food more because the average person has much better idea of what a Big Mac should cost as opposed to what a pint of maple syrup or new set of snow tires should cost."

Oakley noted other factors at work, including the cost of all food.

This encompasses the price of food supplied to fast food chains, which the food expert said increased dramatically during the pandemic because of supply chain issues and has not yet deflated close to 2019 levels.

Oakley also pointed out that some states have enacted minimum wage laws that make fast food labor more costly.

"But keep in mind, when you see these figures about price increases, they are averages," clarified the food influencer.

"A Big Mac in rural Arkansas is quite cheap compared to an exorbitantly-priced one on a busy Connecticut thruway, but when you average those prices together, the price looks high across the board."

Oakley shared that the most notable price change he had personally experienced was for "premium" burgers - specifically at Burger King.

He said a Fiery Bacon Whopper in his neighborhood would cost him $9.49 today.

Fast food prices have risen a lot, but only about five percentage points more than everything else has risen. We just notice the price of fast food more because the average person has much better idea of what a Big Mac should cost as opposed to what a pint of maple syrup or new set of snow tires should cost."

"Anytime a fast food burger edges up to ten dollars, I’m thinking twice," said Oakley, pointing out that a great way to save on fast food is by making use of the food deals on chains' apps.

THE FUTURE OF FAST FOOD

Although fast food prices have been on the rise, the food expert pointed out that several chains have started to launch meal deals as a result of consumers eating out less.

McDonald's launched its $5 Meal Deal in late June, and Wendy's, Burger King, Taco Bell, and other popular chains followed suit.

However, he noted most of these deals merely "cobble together a set of items that were already among the cheapest on the menu" as an attempt to lure consumers back into chains to be upsold into purchasing higher margin items.

Fast Food meal deals

Taco Bell's $7 Luxe Cravings Box:

• Chalupa Supreme
• Beefy Five-Layer Burrito
• Double Stacked Taco
• Chips and nacho cheese sauce
• Medium drink

McDonald's $5 Meal Deal:

• McDouble or McChicken sandwich
• Four-piece Chicken McNuggets
• Small fries
• Small soft drink

Wendy's $5 Biggie Bag:

Burger King's $5 Your Way Meal:

Oakley predicted that fast food chains would likely not drop their prices in the future, but that many trends could push prices even higher.

He listed labor costs as well as increased demand for sustainable products and healthy alternatives as examples.

The food influencer noted that one trend that could theoretically decrease food prices was artificial intelligence at the drive-thru.

"But, so far, the technology isn’t ready and all it would replace is maybe one or two minimum-wage employees, so I can’t imagine that would lower prices in any meaningful way," he said.

In related news, fast food fans shared an "interesting theory" on surging prices, blaming DoorDash and Uber Eats.

A Chick-fil-A rival with 822 locations will implement AI at hundreds of its drive-thrus and promises it'll "rival human employees."