According to Business Insider, price tags in American fast-food restaurants are reaching unprecedented levels. Economists attribute it to soaring inflation. Pizza Hut, Starbucks, and McDonald's have increased the prices of their products. Notably, McDonald's removed affordable items priced at $1–$3 from its menu. According to the US Bureau of Labor Statistics, fast-food prices rose by 6.2% year-on-year in October. Business Insider reports that McDonald's planned a 10% price increase this year. In 2022, prices at the restaurant chain already rose by 10%. This trend significantly impacts consumers' budgets. In March 2023, a TikTok user shared a video about an expensive McDonald's lunch, with a Big Mac meal costing $16.89 in Connecticut. Economists anticipate a worsening price trend in the US despite a slowdown in inflation. Notably, fast food chains are unlikely to return to previous prices. Next year, prices are expected to soar due to rising wages. Starbucks management also warned of potential price hikes. The company highlighted previous price increases and continued adherence to similar measures in its financial report. However, Starbucks aims to address issues related to "strategic pricing." Russian fast-food chains are facing similar challenges. Reports show that meals in Russian restaurants may see a 15%–20% price increase due to the higher food and fuel prices as well as supply chain bottlenecks. In June 2023, these restaurants raised prices by 10% amid growing procurement costs for foreign and Russian products.
