McDonald’s is raising menu prices…again! Over the past two years, McDonald’s has increase the prices of almost everything on their menu, and this time they’re saying it’s because minimum wage is increasing.
This is not the first time customers have complained about menu prices at McDonald’s. Whether it be in a Reddit thread, viral TikTok, or Instagram post, customers are taking to social media to express their dismay, and this time is no different. Keep reading for more information.
McDonald’s increases menu prices after minimum wage increase
California Governor Gavin Newsom signed a bill on Oct. 13th to increase minimum wage for fast food workers to $20 by April 1, 2024. Less than three weeks later on Oct. 20th, McDonald’s CEO Chris Kempczinski announce that menu prices in California would be increased as a response. Though he hasn’t said specifically what the price increase will be, it’s coming, and it’s coming soon. “Certainly, there’s going to be some element of that that does need to be worked through with higher pricing,” he said in an earnings call.
In a different earnings call with investors, McDonald’s CFO Ian Borden said that even prior to the minimum wage increase, menu prices have been going up. In fact, by the end of this year, the price of menu items will have increased by 10% since the start of the year, and this isn’t even the first time they’ve done it.
In 2022, McDonald's net income rose from $1.9B to $2.3B, and much of that increase can be attributed to "strategic" increases in menu prices, which for many customers, are "outrageous."
One customer in Idaho was charged $16 for a Big Mac combo meal, which includes a Big Mac, medium fry, and medium soft drink. Another in Connecticut was charged $18 for the same order. For many, "it's just not worth it anymore."
Customer reactions
In an Instagram post from TMZ announcing McDonald's intention to continue raising menu prices, fans took to the comment section to express their anger. "What's the point of a wage increase if you increase everything else too?" one customer asked. "Makes so sense."
"They were going to raise the price anyways, they just want to use the wage increase as an excuse," another customer commented.
"They have been doing this and will continue to use minimum wage increases as an excuse. What's crazy is that all these big corporations can afford to keep their prices low if the people at the top making millions of dollars take a slight pay cut," one person said in a length comment. "But no, let's blame it on the people who are actually doing the hard work and barely making a living wage."
"What's the point in raising minimum wage just to raise the cost of living?" another asked.
Needless to say, customers are not happy.
