Nearly 80% Of Americans Now Consider Fast Food A ‘Luxury’ Due To High Prices

Has a trip through the drive-through become an extravagance? The vast majority of Americans say so.

A recent nonprobability survey conducted by LendingTree found 78% of consumers now consider fast food to be a “luxury” purchase due to how expensive the meals have become.

In-N-Out worker

Customers line up outside an In-N-Out Burger restaurant. (Robert Gauthier/ Los Angeles Times / Getty Images)

Half of those polled said they view fast food as a luxury because they’re struggling financially. This is especially true among Americans who make less than $30,000 a year (71%), parents with young children (58%), and Gen Zers (58%).

Americans love their fast food, but a majority say they are pulling back on their consumption due to high prices. The findings show 3 out of 4 Americans typically eat fast food once a week, but 62% of respondents said they are eating it less frequently due to the cost.

Sixty-three percent of those surveyed agreed fast food should be cheaper than eating at home, but 75% say that is not the case. Nearly half of Americans (46%) say a meal at a fast-food restaurant costs about the same as one at their local sit-down restaurants, and 22% said fast food is actually more expensive.

Fast-food price hikes have outpaced inflation in recent years. Data from the Federal Reserve Bank of St. Louis shows the cost of fast-food meals is up 41% from 2017, while the consumer price index has risen by 35.9%.


Fox Business

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