Well, fast food eaters may not be as happy about
their Happy Meals as they once were.
Prices have shot way up under President Biden,
surpassing the overall rate of inflation.
So let's dive into how it started versus how it's
going in total.
Under Biden, food away from home is up nearly 22%
since 2021. But fast food has been hit particularly hard.
New data shows that fast food prices have gone up
faster than the average hourly earnings of most employees.
At fast food restaurants. So let's dig a little deeper.
I want to start with Chipotle.
Jackie, this is for you.
You're my Chipotle person. OK,
your girl. Look at this.
2019, a Chipotle burrito 650.
Those were good days. I like those days.
Today, $10.70. So you're paying a heck of a lot
more.
Now you can divide those,
which is the nice thing,
but it's still way up.
Or let's go to this Subway.
I've got you in mind for this,
Taylor. A little healthier not doing a veg,
though. This is not a veg in 2019.
550 for a foot long.
That was nice today, 2020 four $8.49.
Now, of course these can vary by location and where
you are by state,
but the point is it's gone way up to get
lunch.
And here's why I think it matters to me.
You think about when you're buying this stuff,
a lot of times, you know,
if you're a family, we talked about families earlier,
you're out with the kids.
You need to stop gap thing.
You go to fast food.
But if you got 2-3 kids and you're buying the
subways,
Taylor, I mean, that adds up.
That's why people don't feel so good.
About how things are going and you can't afford it
and it's no longer sort of used to go to
it as ease and convenience,
maybe as a trade off for some of the health
nutrients that we're lacking.
But if you're not really getting the ease and convenience
of the prices and you're not really also getting the
health,
I don't see how families can afford it.
I know in my family we're just sort of cutting
back down and just doing the basic groceries.
And what is interesting about this is when they wanted
to raise minimum wage to $15.00,
that's what everybody was saying,
don't do it. You're going to push the cost of
everything up and so.
Ultimately, they never passed legislation to do that.
It happened through inflation. Employers had to raise their wages
and that added to the price increases and that's where
we are now.
Interesting about Chipotle was that we have the CFO on
and he said that customers have been pretty resilient and
they're continuing to spend.
But you add that to that $10 and change burrito,
a $3 and something small soda,
now you're at $15 almost per person.
He also said it had only been a few weeks
since that higher minimum wage had gone into effect and
so stay tuned.
But that was start to push back.
Yeah, yes.