McDonald’s and Chipotle said they will raise menu prices in California to pay for the minimum wage hikes the Golden State recently passed into law.
McDonald’s CEO Chris Kempczinski said Monday the fast-food giant will hike prices in California after Gov. Gavin Newsom recently signed into law a measure that would give wage earners a $20-an-hour minimum — although the company hasn’t yet decided by how much.
The Chicago-based burger chain — which cited “strategic menu price increases” as it revealed on Monday that its revenue surged 14% in the latest quarter — already has been hiking prices nationwide amid rampant inflation, including charging $18 for a Big Mac meal at a location in Connecticut.
Surging prices have forced consumers to pare back spending on fast food, according to McDonald’s executives.
Fewer Americans earning $45,000 or less have been frequenting McDonald’s locations this past quarter, according to the company.
The latest inflation figures released by the federal government show that the cost of food away from home rose 6% in September compared to the same period last year.
It’s not a problem if you don’t eat there. Neither chain has good food.
Some of us aren’t independently wealthy and can’t afford not to eat there!
It has nothing to do with being wealthy. It’s just cheaper and healthier to make your own.
take a ook at what is happening you raise wages but have to raise the price of goods to compensate. now the people
that gor raises dont have more money in their pocket it all comes out the same in the end
Yea how’s that 15.00 an hour working out for them now with everything costing twice as much and even more
They ain’t any better than they were before
Same place just another day
Ha ha
Will be the same with the auto industry. A 33% hunk in wages will be added to the cost of new cars. Just wait and see.
take a look at what is happening you raise wages but have to raise the price of goods to compensate. now the people
that got raises dont have more money in their pocket because it costs more to buy