“In January, prices for food away from home—or menu prices—increased 3.9% year-over-year. That was the same rate as in December. That is also the highest rate for menu price inflation since late 2008, when the country was in a deep recession.” “prices at limited-service [fast-food] restaurants increased 6.2%. By contrast, prices at full-service restaurants increased 2.9%.” “In the post-pandemic era, demand at limited-service restaurants has far exceeded demand at full-service restaurants. While the supply of full-service restaurants is constrained because of limitations on seating and the closures of a number of locations, what’s left of that business hasn’t necessarily been all that eager to take pricing dramatically higher, lest they lose customers.” “Quick-service restaurants haven’t had that problem. Delivery, drive-thru and takeout all became vital in the post-pandemic world. Consumers lined up for blocks at Chick-fil-A drive thrus and ordered delivery at three times the rate they did in the previous year.” “That tends to result in higher prices because operators, not worried about losing that business, felt free to raise prices. And consumers are loaded with cash and not spending it on anything else.” “many fast-food operators felt they had little choice but to increase prices because of the other influencer—wage rates. By all accounts, operators at fast-food restaurants we speak with describe challenges getting workers, which has driven up wages—as has wage-rate increases at big retailers like Target, Walmart and Costco.” “To match those higher wages, fast-food restaurants have raised prices. Full-service restaurants haven’t had that problem because much of their staff rely on tips.” “It’s also possible that delivery prices are influencing these numbers.” https://www.zerohedge.com/personal-finance/fast-food-menu-prices-have-soared-during-pandemic #economics #medicalTyranny #lockdowns #covid19 #fastFood #supplyDemand