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https://nypost.com/2024/01/02/business/price-of-big-macs-could-rise-to-15-due-to-minimum-wage-hikes/
The decision by states in half the country to hike their minimum wage could send the price of fast-food staples like a McDonald’s Big Mac soaring to $15 in those states, according to an economic analyst.
Brandon Arnold, executive vice president of the fiscally conservative think tank the National Taxpayers Union, pointed to California’s decision to mandate that employees at fast food restaurants be paid at least $20 an hour as a troubling sign.
Companies are “either gonna have to raise prices, start to reduce those labor costs or a combination of both,” Arnold told Fox News on Monday.
“And that’s not fair to those employees that are getting laid off, nor is it fair to the customers that are all of the sudden paying $12, $15 for a Big Mac.”
Last July, a McDonald’s location in Connecticut was criticized for charging $18 for a Big Mac combo meal.
The most expensive Big Mac in the US could be found in Massachusetts, where the burger costs $7.09, according to the financial data site Zippia.
The cheapest Big Macs in the country go for $4.19 each in North Carolina and Wyoming. The average price of a Big Mac in the US is $5.17, according to Zippia.
California’s $20-an-hour minimum wage for fast food workers goes into effect in April. McDonald’s and Chipotle both announced that they would be hiking the prices of menu items at Golden State locations beginning this year.
The decision by states in half the country to hike their minimum wage could send the price of fast-food staples like a McDonald’s Big Mac soaring to $15 in those states, according to an economic analyst.
Brandon Arnold, executive vice president of the fiscally conservative think tank the National Taxpayers Union, pointed to California’s decision to mandate that employees at fast food restaurants be paid at least $20 an hour as a troubling sign.
Companies are “either gonna have to raise prices, start to reduce those labor costs or a combination of both,” Arnold told Fox News on Monday.
“And that’s not fair to those employees that are getting laid off, nor is it fair to the customers that are all of the sudden paying $12, $15 for a Big Mac.”
Last July, a McDonald’s location in Connecticut was criticized for charging $18 for a Big Mac combo meal.
The most expensive Big Mac in the US could be found in Massachusetts, where the burger costs $7.09, according to the financial data site Zippia.
The cheapest Big Macs in the country go for $4.19 each in North Carolina and Wyoming. The average price of a Big Mac in the US is $5.17, according to Zippia.
California’s $20-an-hour minimum wage for fast food workers goes into effect in April. McDonald’s and Chipotle both announced that they would be hiking the prices of menu items at Golden State locations beginning this year.
