For years, dating back to the 2022 inflation wave, McDonald's and its fast-food rivals have contended with shopper frustration over rising menu prices, with combo meals increasingly breaking into double digits. Customers at the higher end of the income spectrum continue to order premium products and use delivery apps at healthy rates. Lower-income diners, however, are cutting back, Kempczinski argued in an interview on CNBC's "Squawk Box," treating fast food less as a daily convenience and more as an occasional splurge.
Spending data indicates that, despite consumers' belief that they are dining out less to save money, restaurant spending per household actually increased 2.1% between March and June.
In my quest for the cheapest cheeseburgers, I found that all options at Applebee's, Chili's, and TGI Fridays were cooked properly and served with ample fries.