Former CKE Restaurants CEO Andy Puzder gives the industry an inside look at how fast food companies are trying to keep up with inflation and criticizes Biden’s tax policy.
According to a recent survey of American consumers on fast food prices, the burger chain came out on top for having the most expensive menu. The survey comes as Americans say they have experienced less inflation and higher prices than ever before.
A study by Preply states that Shake Shack ranks as the most expensive restaurant chain, followed by Five Guys and Factory Sugar.
In March, Shake Shack raised its prices by 3%.
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Shake Shack is an American fast food restaurant that offers a variety of burgers, hot dogs, fries, chicken nuggets, sandwiches, soft foods and more. (iStock / Stock)
FOX Business has reached out to Shake Shack and Five Guys for comment.
To make their decisions, researchers analyzed the language of 57,245 reviews of more than 10,000 restaurants in 50 cities across the country.
To obtain overvalue scores, the authors looked for keywords — such as “value” or “rip-off” — in restaurant reviews in each city and analyzed how often patrons used them.
The cities with the most expensive restaurants were Oakland and San Jose, California, and Virginia Beach, Virginia., according to the survey.
“With three of the top five cities in California, this highlights how high restaurant prices in California keep pace with the rising cost of living,” the study said. “In addition to generally high prices, Californians are known for prioritizing high-quality, high-priced ingredients.”
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McDonald’s America President Joe Erlinger appeared on the “Today” show to discuss fast food price increases. (Jakub Porzycki/NurPhoto via Getty Images | NBC / Fox News screenshot)
“Unfortunately, some restaurants miss the mark. They create inflated menu prices that don’t match what might be considered reasonable for the quality and quantity of food served.”
New York City topped the list of municipalities with the cheapest restaurants.
The study comes as many restaurants and grocery stores have raised prices. In May, McDonald’s USA President Joe Erlinger defended the hike, denying reports that the hike was necessary.
Shack’s fresh avocado burger and avocado chicken. Both come with sliced ​​avocado and applewood smoked bacon. (Shake Shack/Fox News)
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“Recently, we’ve seen a lot of social media and unsubstantiated reports that McDonald’s has raised prices above inflation,” he said. “The average price of a Big Mac in the US was $4.39 in 2019. Despite the global pandemic and historic increases in supply costs, wages and other inflationary pressures in subsequent years, the average cost is now $5.29. That’s a 21% increase (not 100 %).”
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