Bidenomics Update: Americans Say Fast Food Is Now a ‘Luxury’

Plus: Gen Z’s Double Life

In Today’s BRIGHT

Bidenomics Update: American Say Fast Food Is Now a ‘Luxury’
CNN Legal Analyst: Prosecution ‘Fell Short’ Against Trump
Gen Z’s Double Life
Introducing Peanuts to Young Children May Reduce Allergy Risk
Throwback Thursday: The End of the Movie Theater

Bidenomics Update: Americans Say Fast Food Is Now a ‘Luxury’

Fast food, once seen as an affordable meal option, is now considered a “luxury” by many Americans due to rising menu prices, according to a LendingTree survey. KTLA reported that nearly 80% of respondents view fast food as a luxury, and 62% are eating it less frequently because of higher costs. Possibly good if we knew what was replacing it! This sentiment is especially prevalent among those earning under $30,000 a year, parents with young children, Gen Zers, and women. Menu prices at major chains have significantly increased, with McDonald’s prices doubling since 2014.

FinanceBuzz reported, “According to the Bureau of Labor Statistics, the cost of goods has risen 31% since 2014…Much of this change has happened in the last 5 years — inflation is up 22% since 2019.”

This graphic shows how prices at various fast food restaurants have risen in comparison to inflation. In addition to food costs, the other big factor affecting prices are minimum wage increases. But at least service is better, right? 😑