Food Costs More Than Ever – Can McDonald's New $5 Meal Save Us?

For example, Chili’s just started targeting fast food lovers by introducing the Big Smasher Burger as part of their 3 For Me menu which includes the sandwich, fries, bottomless chips and salsa, and a bottomless drink for a grand total of $10.99. Their main selling point for the Big Smasher? It has twice the amount of beef as a Big Mac.

Starbucks is also flexing savings on menu items. They’ve significantly increased their rewards cadence over the past months, now offering 50% off drinks every Friday in May. Their US sector saw a 7% decline in traffic in 2024’s second quarter.

Given the expensiveness of it all, it’s no surprise that McDonald’s has plans to step up their affordability game. According to Fox Business, the chain’s been working on their ‘Best Burger’ initiative to bring a “larger satiating burger" to customers for similar prices as what’s already on the menu.

In the same vein, McDonald’s is also reportedly interested in offering a $5 meal deal that could include a McChicken, a McDouble or four-piece chicken nuggets, fries, and a drink. It’s unclear as to when they’d roll it out (or if they actually will), but it’s clear they have their eyes on distant, once-regular customers.

This is appreciated and all, but do we really owe these fast food companies a ‘thank you’? A report from Groundwork Collaborative found that corporate profits accounted for about 53% of inflation in Q1 and Q2 of 2023, compared to 11% of inflation in the 40 years prior to the pandemic. So while prices skyrocket for consumers like you and me, corporations are earning more and more even though production costs for them have “substantially” decreased.

I get it – completely eliminating dining out is near impossible. I’m not saying that scooping up a little *discounted* treat – or even a regularly-priced meal – every once in a while is a bad thing. It’s just important to remember that these fast food companies aren’t necessarily looking out for you, but instead, their profits.

As you look for ways to economize on fast food and otherwise, take advantage of the many ways you can actually save money. Coupons, birthday freebies, happy hours, and restaurant surveys are just a few methods to navigate the madness. As a certified Dunkin’ girl, you'll still catch me grabbing a bite to eat around town. I'm just hoping we can all catch a break.