Food Costs More Than Ever – Can McDonald's New $5 Meal Save Us?
It goes without saying that no salad should cost more than anyone’s hourly wage, but that seems to be where we’re at with things.
Inflation continues to inflate, and I feel the pressure of it every single day. From rent prices (yikes!) to the weekly grocery bill (even bigger yikes!), nearly everyone is tuned into the absurdity of how expensive it is to simply get by.
Consumers are not immune to the crushing financial weight of merely existing and are increasingly hesitant to spend their money liberally, especially atfast food joints. Perhaps this is why many popular chains are promoting deals that allegedly get you more bang for your buck.
Image via Chili's
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.
Image via Starbucks
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.
Image via McDonald's
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.
Photo by Marco Fischer / PEXELS
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.
Photo by Ab Kazaam / PEXELS
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.
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Lead image via McDonald's.
