Customers frustrated as fast-food prices continue to rise

PARTICULARLY BAD IN THE ONE PLACE WHERE YOU ARE SUPPOSED TO FIND REPRIEVE, FAST FOOD. CONSUMERS ARE GETTING A LITTLE SALTY ABOUT THOSE FAST FOOD MEALS. >> SINCE WHEN IS DRIVE THROUGH LIKE A MINIMUM OF $30 FOR TWO PEOPLE TO EAT? >> NEW INFLATION DATA THIS WEEK CONFIRMS PRICES AT FAST FOOD RESTAURANTS ARE ON THE RISE. AND CONSUMERS ARE TAKEN NOTE. >> IT'S GETTING OUT OF HAND HERE. >> Reporter: WHY THE PRICE INCREASES? >> LABOR COSTS ARE ALSO ON THE RISE. >> THE PRICES ARE INCREASING AT A RATE THAT WE HAVEN'T SEEN REALLY IN MODERN RESTAURANT INDUSTRIES. >> SO MUCH SO THAT McDONALD'S HAS SAID IT'S NOTICING LOWER-INCOME CONSUMERS TURNING AWAY FROM BIG MACS AND OPTING TO EAT AT HOME. CONSUMERS ARE TURNING TO GROCERIES, WHERE PRICES HAVE RISEN AT A SLOWER 1.2%. FOR 12 YEARS, SHE USED TO GO TO PANERA 3 TO 4 TIMES A WEEK. NOW ALMOST $9 FOR A BOWL FOR THE SAME SOUP THAT COST HER ABOUT $7 THREE YEARS AGO. >> IF I'M GOING TO SPEND THAT $8, $9, I WOULD RATHER GET A SANDWICH OR SOMETHING THAT -- FOR MY FAMILY, VERSUS ME JUST GETTING A BOWL OF SOUP. >> Reporter: PANERA DID NOT RESPOND TO A REQUEST FOR COMMENT. INSIST THAT PRICES ARE UP TO THEIR FRANCHISEES TO SET. >> THEY LOOK AT THIS CONSUMER BACKLASH AND IS CONCERNED ABOUT WHAT THIS MEANS FOR THEIR CUSTOMER BASE AND REVENUES. AND I CAN TELL YOU, YOU KNOW, RESTAURANT SALES IN THE BACK HALF OF LAST YEAR DEFINITELY SLOWED DOWN FOR SURE. >> Reporter: CONSUMER BACKLASH MAY PUSH COMPANIES TO BACK OFF ATTEMPTS TO PASS COST TO CONSUMERS, FOLLOWING WENDY'S. WENDY'S LATER CLARIFYING IT WOULD NOT USE SURGE PRICE IN RIDE SHARE APPS WITH INCREASE PRICES DURING HIGH-DEMAND TIMES. CHILI'S TAKING DIRECT AIM AT COMPETITORS AS CONSUMERS LOOK FOR SAVINGS. >> SO, BRIAN, WHEN IT COMES TO THESE PRICE HIKES AND SO MANY FOLKS ARE SEEING IT AT DIFFERENT FAST FOOD RESTAURANTS. ARE THERE PARTICULAR ITEMS THAT WE SHOULD LOOK OUT FOR? >> McDONALD'S SAYS THEIR APPS CAN OFFER COUPONS OR OTHER DEALS. LOOK AT MEAL DEALS IF YOU ARE BUYING FOR THE WHOLE FAMILY. AND

Channel: TODAY

Views: 326,173

Keywords: Al Roker, Entertainment, Food, Health, Hoda Kotb, Home, International News, Money, Natalie Morales, Savannah Gutherie, Sports, Style, Today, Today Show, breaking news, concerts, domestic news, interviews, media, parents, pets, politics, shopping, weather

Id: V0vvAlgSEz4

Length: 2min 55sec (175 seconds)

Published: Fri Apr 12 2024