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BIDENFLATION: McDonald’s menu prices up 40% since 2019

05/31/2024 // News Editors // Views

Tags: Bidenflation, big government, Bubble, Collapse, debt bomb, debt collapse, economic collapse, economy, fast food, finance riot, food collapse, food inflation, food supply, Inflation, Joe Biden, Joe Erlinger, market crash, McDonald's, money supply, risk, White House, Xpost

Joe Erlinger, president of McDonald’s USA, addressed recent claims concerning increased menu prices through an open letter on Wednesday. The fast food executive acknowledged that McDonald’s menu items have seen an average price rise of about 40 percent since 2019. While Erlinger sought to refute claims by House Republicans — among others — that menu price hikes exceeded 100 percent, he did confirm that inflation has forced a drastic rise in food costs.

(Article republished from TheNationalPulse.com)

“Americans across the country are making tough calls about where to spend their hard-earned money,” Erlinger said. “And while we’ve been working hard to make sure our fans have great reasons to visit us, it’s clear that we — together with our franchisees — must remain laser-focused on value and affordability.”

Erlinger reported that the cost of a Big Mac meal has risen to $9.29, a 27 percent increase from $7.29 in 2019. Similarly, a 10-piece McNuggets meal has seen a 28 percent price increase, while medium french fries’ prices have surged by 44 percent. He attributed these rises to increased costs in salaries and source products.

“For a brand that proudly serves nearly 90 percent of the U.S. population every year, we feel a responsibility to make sure the real facts are available,” Erlinger stated.

According to the Bureau of Labor Statistics, consumer prices have risen 3.4 percent over the past year. The upward cost trend has led to some consumers cutting back on restaurant visits, impacting the fast-food industry, including McDonald’s. In its first-quarter earnings report, the company reported that same-store sales fell below expectations.

Meanwhile, the National Owners Association, an independent group of McDonald’s franchisees, is advocating that any potential discounted offerings be sustainable for operators. “There simply is not enough profit to discount 30 percent for this model to be sustainable,” the board stated in a letter to its members. “It necessitates a financial contribution by McDonald’s.”

BIDEN IN DENIAL.

The prospect of a re-acceleration of inflation has left the Biden government and presidential campaign in denial. Three straight months of increasing inflation have forced the 81-year-old Democrat to avoid discussing the U.S. economy on the 2024 campaign trail. Instead, Biden and his surrogates have opted to either deny that inflation is a problem or, most recently, falsely insist that inflation has actually decreased since he took office.

Read more at: TheNationalPulse.com

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