Introduction
When it comes to eating out, it can be hard to keep up with the ever-changing prices of restaurant chains. With the cost of ingredients and labor on the rise, many restaurants have had to raise their prices in order to stay in business. In this article, we’ll take a look at five restaurant chains that have raised their prices the most in recent years. We’ll also provide some tips on how to save money when dining out, so you can still enjoy your favorite meals without breaking the bank.
5 Restaurant Chains That Raised Their Prices the Most — Eat This Not That
Eating out can be expensive, and it’s only getting worse. According to the Bureau of Labor Statistics, restaurant prices have risen faster than the overall rate of inflation for the past five years. That means that the cost of eating out is going up faster than the cost of groceries. Here are five restaurant chains that have raised their prices the most.
1. McDonald’s
McDonald’s is one of the most popular fast-food chains in the world, and it’s also one of the most expensive. The chain has raised its prices by an average of 4.5% over the past five years. That’s more than double the rate of inflation.
2. Burger King
Burger King is another popular fast-food chain that has raised its prices significantly. The chain has increased its prices by an average of 4.3% over the past five years. That’s slightly less than McDonald’s, but still more than double the rate of inflation.
3. Wendy’s
Wendy’s is another fast-food chain that has raised its prices significantly. The chain has increased its prices by an average of 4.2% over the past five years. That’s slightly less than Burger King, but still more than double the rate of inflation.
4. Taco Bell
Taco Bell is another popular fast-food chain that has raised its prices significantly. The chain has increased its prices by an average of 4.1% over the past five years. That’s slightly less than Wendy’s, but still more than double the rate of inflation.
5. KFC
KFC is another popular fast-food chain that has raised its prices significantly. The chain has increased its prices by an average of 3.9% over the past five years. That’s slightly less than Taco Bell, but still more than double the rate of inflation.
Eating out can be expensive, but it doesn’t have to be. By avoiding these five restaurant chains, you can save money and still enjoy a delicious meal.
If there is something that everyone in the restaurant industry is talking about these days, it’s pricing. Skyrocketing food costs are putting pressure on chains to find the sweet spot of what customers are willing to pay in order to fine-tune profit margins.
The unfortunate truth is that there is no escaping the inflation and its effects on restaurants. When chains aren’t raising prices, they’re finding other ways to cut costs—either by closing unprofitable locations, cutting back on labor, or coming up with new value deals that may entice higher check averages. It’s a tightrope walk before diners begin to notice declining quality or feel like fast food is simply becoming overpriced.
So, while there is no winning the inflation game, simple price hikes may be a more honest way to go (when keeping in mind the extra cost typically falls on the consumer). With that in mind, here are the chains that have either raised their prices or have plans to – for better or for worse.
And don’t miss This Once Bankrupt Brand of Grill Restaurants Is Making a Huge Comeback.
In an earnings call in February, Former CEO Kevin Johnson said the company has “taken pricing actions” in October 2021 and January of this year, and has additional plans for more increases later this year.
CBS reported in February the price of a Venti (large) coffee was $2.45 in 2021 but is now $2.95 in some locations, which is an increase of 20%.
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McDonald’s just isn’t the ultra-cheap food stop it used to be, thanks to the soaring prices of meat. Coupled with increased wages for workers, customers are shelling out more than ever for a Big Mac.
McDonald’s hiked its U.S. pricing by roughly 8% compared to a year ago, according to CFO Kevin Ozan’s remarks on an earnings call in April. The year before, the chain bumped prices up by 6%.
The fast-casual food chain known for its Tex-Mex burritos and bowls raised its prices 4% across the menu in December, citing an effort to offset food and labor costs.
The move capped off an overall 10% increase in prices across the board since last year, which CEO Brian Niccol confirmed during an earnings call in February.
Bloomin’ Brands, the parent company of Outback Steakhouse, announced that it would bring pricing up about 5% this year. The increase rides the tail of a prior 3% increase, which the brand said wasn’t enough to offset “inflationary pressures.”
Wendy’s made a bold move of raising prices twice in two years. Last year, the company increased its menu prices by 6%, according to CEO Gunther Plosch. He also confirmed, during an earnings call in March, that the prices will go up by another 5% in 2022.
While Wendy’s plans on raising prices, it will push its affordable options like its Biggie Bags to “strike the right balance and maintain value perception,” according to Plosch.
Amber Lake