Bidenomics: Fast food prices have skyrocketed

Joe Biden recently stated that his administration was not responsible for causing high inflation since Donald Trump handed over the country with a 9% inflation rate. However, the White House had to correct the president's data after the press discovered that the figure was actually much lower: 1.4%.

Americans are feeling the increase in inflation in their daily lives. According to data obtained by StarTribune, the cost of eating out increased by 30% on average since 2019. For example, a medium fry cost $1.79 in 2019 and currently costs $4.79. This is a 167% increase.

In the case of the 10-piece McNuggets, the price increased by 95.5%. It went from $6.49 to $12.59.

"From Big Macs to burritos, fast food prices have increased dramatically over the past five years at four major chains. It's no longer the low-cost meal it used to be," StarTribune reported.

The cost of eating out has increased tremendously. In fact, this worries companies due to the low influx of customers. Some fast food chains have started offering some deals to try to make up for their lost sales.

This is the case of McDonald's, which recently announced that it would add a $5 meal deal. Wendy's responded with a $3 breakfast deal.

"We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. That's been true since our very beginning and never more important than it is today," McDonald's USA said in a statement.

Additionally, some fast food chains explained that they have to increase prices as the cost of goods increases.

In a statement, the House Republican Conference blamed the Democratic administration for the economic situation. "Bidenflation is a tax on ALL Americans, and it has skyrocketed because of Joe Biden and far-left Democrats’ reckless spending. House Republicans are fighting to rein in their out-of-control spending and drive down costs for Americans," the conference said in a statement posted on its official website.

According to Investopedia, the Joe Biden administration has the highest average inflation rate since Jimmy Carter.

The current president has an average annual inflation rate of 5.7%, which is substantially higher than the 1.9% that the Trump administration averaged. As for Carter, he averaged 9.9% year-over-year.

Similarly, Republicans claimed that real average weekly wages have dropped 4.4% since Biden took office. In addition, they claimed that Americans are spending more than $12,800 more on basic goods per year compared to three years ago. People are spending $1,000 more per month than they did three years ago.