It may seem like the fast food industry will always be the low price leaders when it comes to dining out, but recent research shows otherwise. While staple items on fast food menus remain highly discounted, additional menu item prices are rising, and by way more than just inflation. The average hamburger has increased by 54% over the last decade, while chicken sandwich prices are up 27%. In fact, the prices at fast food restaurants are more in line with dining out at a full-service restaurant. And while prices often vary by city and state, the trend of more low and high-priced items with less middle ground seems to be expanding.
With all restaurants fighting for market share in the industry, we can expect fast food prices to continue to rise in attempt to offset the discounts, promotional expenses and increases in minimum wage seen across the country. (Bloomberg, 12.03.18)