McDonald’s Prices To Drop in New York State?

It's no secret that food prices have been climbing in recent years.

Since 2021, inflation has been a huge storyline when it comes to food prices at grocery stores, fast food places, sit-down restaurants and other food markets. That's not the fault of the restaurant or grocery store owners. The cost of food, labor, utilities, contracts and the cost of running a business is going up, and raising food prices is something most places have been forced to do.

Even fast food places like McDonald's have been a raise in prices, which has turned off customers in recent months. Now, we know that McDonald's is realizing that and is speaking out on the topic.

CEO, Chris Kempczinski said in an earnings call that McDonald's believes customers have become "weary" of high prices.

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Kempczinski mentioned that many customers make $45,000 or less, which means more staying at home and eating more affordable meals. The reason McDonald's raised prices, varied by market, was due to inflation.

WKRN details that while McDonald's is cognizant of the higher prices driving some customers away, they won't be just cutting the prices of all items. They will cater to different customers and markets, with tailored digital offers and their $1-2-3 values.

The curious part about this whole debate regarding McDonald's and other fast food chains having high prices, is the popularity of TikTok and Instagram reels, where content creators are going viral by highlighting the crazy prices of some of these combo means, which can routinely push $15 and $20.

Social media may be playing a factor in fast food chains debating what to do with their menu prices. While McDonald's knows they have to combat this in some way, a drastic price decrease for locations in New York State is not in the cards...at least not yet.