Fast-Food Restaurants Fight to Keep Customers as Food and Wage Costs Spike

‘Restaurant owners are really stuck between a rock and hard place,’ says economist Thomas Savidge.
Fast-Food Restaurants Fight to Keep Customers as Food and Wage Costs Spike
A customer waits to order food at a McDonald's fast-food restaurant in Miami on July 26, 2022. Photo by Joe Raedle/Getty Images
|Updated:
0:00

Fast-food restaurants survive by providing affordable, quick, and convenient meals, but cost inflation is now pushing their business models to the brink.

It has become more expensive to eat out over the past five years, with food away from home increasing by 30 percent, according to the Bureau of Labor Statistics. In just the past year, the cost of eating at a fast-food restaurant has increased by more than that of a full-service restaurant.
Kevin Stocklin is a contributor to The Epoch Times who covers the ESG industry, global governance, and the intersection of politics and business.
Related Topics