In order to keep more workers on the beat, McDonald’s has increased their employees’ wages, something which innately digs into overall company profits. Likewise, the Golden Arches paid more for food supplies, such as raw beef.
During 2021, McDonald’s prices rose by 6%. However, the menu is expected to get even more pricey for customers this year. This is due to the ongoing effects of higher costs associated with packaging, labor, and food.
A problem that is here to stay
Last year, the Biden White House repeatedly insisted that inflation would be transitory. However, this is a claim which is now disproven many times over. McDonald’s, for instance, won’t be seeing the reduction of prices anytime soon.
Right now, considerable Americans are wondering when inflation will go down. However, that seems to be anyone’s guess. For now, though, the country can expect interest rates to increase as part of the federal government’s efforts to decrease inflation levels.
With higher interest rates, loans will be more costly and more challenging to come upon. At the end of the day, inflation is going to continue influencing everyone’s spending habits, especially those of middle-class and working-class Americans.
