McDouble! McDonald’s prices have doubled in ten years – far outpacing general inflation, report shows

McDonald’s was once seen as an affordable place to eat out, but for many Americans its meals have become a luxury.

According to a new study, in just 10 years, the average cost of a selection of main dishes on your menu has doubled. Some items cost three times as much.

This is more than three times the official inflation rate: The cost of goods has increased only 31 percent since 2014, according to the U.S. Bureau of Labor Statistics.

So a quarter pounder with cheese flour and an Oreo McFlurry would cost you less than $8. Now, that combination would cost more than twice as much, about $16.50.

In the rest of the US economy, $8 in 2014 would now be worth about $10.50.

Some menu items have become more expensive more quickly: A McChicken cost just a dollar in 2014, but now costs three times as much, according to FinanceBuzzthat accumulated prices over time.

Medium fries have more than doubled in price, from $1.59 to $3.79 this year. A McDouble was $1.19 then, but now $3.19.

Other items have been less vulnerable to price increases. The cost of a medium drink has risen less than inflation: $1.29 a decade ago, but still only $1.61.

It comes as photos of shockingly high prices at some McDonald’s restaurants have gone viral, including an Egg McMuffin for $7.29 and a Big Mac for $8.39.

Official inflation data is published by the Government and determines the size of cost-of-living adjustments (COLA) for retirement and Social Security benefits.

But the rate at which certain things actually become more expensive can differ from the official inflation rate.

Famously, The Economist created the Big Mac index as an identifiable way of tracking changes in the purchasing power of different currencies.

It rose about 34 percent between 2014 and 2024, significantly less than FinanceBuzz’s results and only slightly higher than official inflation of 31 percent.

Daniel Roccato, a clinical professor of finance at the University of San Diego’s Knauss School of Business, said fast food price increases may begin to slow. “Consumers have reached a tipping point,” he told FinanceBuzz.

‘Fast food operators have raised prices faster than the general rate of inflation and that is especially hard on their core consumers. “We won’t see a drop in prices, but we can expect a pause,” he added.

Neil Saunders, managing director of consultancy GlobalData Retail, told DailyMail.com this year that consumers are growing tired of price increases.

‘The problem is that places like McDonald’s were once cheap delights but are now becoming expensive luxuries. And customers are tired of continued price increases,” he said.

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Fast food prices are rising because the cost of labor has increased and demand is increasing as people look to save money, according to Shubhranshu Singh, associate professor of marketing at Johns Hopkins Carey Business School.

“Due to increasing pressure to spend less, some consumers have also shifted from full-service restaurants to fast-food restaurants, thereby increasing overall demand for fast food,” he told FinanceBuzz.

He also noted that fast food coupons and deals have been declining as restaurants have had less need to incentivize customers.

It’s important to note that while the prices here are considered for a single store, McDonald’s franchisees have a lot of autonomy in setting menu prices.

FinanceBuzz collected additional historical data points related to McDonald’s, but applied some adjustments to create a reasonable representation of national price trends over time for the chain.

McDonald’s questioned some of the pricing in the FinanceBuzz report, adding: “Value is part of McDonald’s DNA, and we are committed to offering customers great value through everyday affordable prices, plus special offers and promotions.” in our app and through the MyMcDonald’s Rewards program.