Remember the dollar menu? Is it just a remnant of a less inflationary, pre-Covid past?
Well, considering the $1 McDonald’s (MCD) cheeseburger was going for $3.15 in 2023, it’s safe to say the golden arches are a little more golden for all the wrong reasons.
TheStreet‘s Jeremy Salvucci compared 2019 prices available on fastfoodmenuprices.com with a Los Angeles-based McDonald’s in 2024 and it was clear to see that prices of some of the most popular menu items doubled, if not tripled.
Related: How much have fast-food prices gone up since 2020? Price hikes at 6 popular chains
While McDonald’s has since announced plans to bring cash conscious consumers back into the door after recently issuing disappointing same-store sales, is a limited $5 value menu enough?
Time and McDonald’s next earnings report will determine if consumers are ‘lovin’ it.’
FULL VIDEO TRANSCRIPT BELOW:
Remember the dollar menu?
It’s no secret that prices in general have skyrocketed since covid.
And not even a Mcdonald’s cheeseburger was immune.
But how much have prices really gone up?
It’s a complicated answer…
And Ronald McDonald and his fast food counterparts would rather you just buy your lunch and ask less questions.
So we compared 2019 prices (courtesy of fastfoodprices.com) with 2024 prices at a Los Angeles-based McDonalds….
2019’s $1.79 medium french fries cost $4.19 in 2024.
McChicken sandwiches that cost $1.29 now go for $3.89.
Big Macs jumped from $3.99 to $7.49.
10 McNuggets that went for $4.49 now cost $7.58.
And yes even that $1 cheeseburger will now set you back $3.15.
Inflation aside, can’t say we’re lovin’ it.
More on Price Increases:
- Yes, there are fewer chips in the bag: Shrinkflation, explained
- Surge pricing: Examples, history & how it works (Uber, Lyft, DoorDash & more)
- Don’t expect food prices to go back to pre-pandemic levels
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