The days of "fast food" being "cheap food" are long gone, and prices seem to always be increasing. We can blame that phenomenon on rising inflation, and while a trip to a McDonald's drive-thru is still cheaper than settling in for a meal at your favorite steakhouse, it's far from inexpensive. In fact, prices soared in 2024 as some of the most well-known fast food chains hiked prices to make our favorite treats more costly than ever.
Not all fast food is created equal, and one restaurant has increased its prices more than others. In fact, it doubled its menu item prices in the last decade. According to a survey conducted by Lending Tree, which surveyed 2,000 Americans, 78% of participants say they now view fast food as a luxury rather than a way to get a quick and cheap bite to eat while on the go.
The question is, will those fast food prices continue to rise into 2025? Here's everything to know about fast food inflation, including which chains hiked their prices up the most last year and what may be on the horizon.
Fast food price increases undefined Fast Food Chain Item McDonald's Quarter Pounder with Cheese Meal Four-piece McNugget Happy Meal Popeye's 4-piece Chicken Dinner Popeye's Popcorn Shrimp Combo Taco Bell's Beefy 5-Layer Burrito Taco Bell's Gordita Crunch Price increase between 2014 and 2024 122% increase 67% increase 97% increase 94% increase 132% increase 100% increase
Source: FinanceBuzz
What fast food chains have increased their prices the most in the past decade?
In the last decade, McDonald's has increased its prices by a whopping 100% in the US, making it the most increased fast food chain in the country, according to information gathered by FinanceBuzz. But their menu prices aren't only increasing in the states. According to Spine Genie, McDonald's has increased their prices in Canada by nearly 140%.
In the US, a quarter pounder with cheese meal cost $5.39 in 2014 and in 2024, it cost $12, FinanceBuzz reports. The second and third restaurants with the most inflated prices were Popeyes and Taco Bell in the US and Panera and Wendy's in Canada. At Popeyes in 2014, you could snag the four-piece chicken dinner for $7. By 2024, that price rose 97% and now costs $13.79.
Taco Bell is one chain restaurant that inflated their prices the most in the past decade. Taco Bell
These results slightly differ from 2022 when Wendy's and Chick-fil-a had the highest inflation rate and Burger King's chicken fries were the number one inflated menu item across all chains.
... continue reading