Kevin Roberts remembers when he could get a bacon cheeseburger, fries and a drink from Five Guys for $10. But that was years ago. When the Virginia high school teacher recently visited the fast-food chain, the food alone without a beverage cost double that amount.
Roberts, 38, now only gets fast food “as a rare treat,” he told CBS MoneyWatch. “Nothing has made me cook at home more than fast-food prices.”
Roberts is hardly alone. Many consumers are expressing frustration at the surge in fast-food prices, which are starting to scare off budget-conscious customers.
A January poll by consulting firm Revenue Management Solutions found that about 25% of people who make under $50,000 were cutting back on fast food, pointing to cost as a concern.
Yeah, I doubt the median income is higher here, especially if you have socialized medicine. I make ok money, but the minimum wage here is still only $7.25/hr across the majority of the country, and the median income is around $18/hr. If you figure in the cost of health insurance average around $600/month. Though employers often cover a portion of the premium. And the median rent is $2000, much higher in cities of course. And gasoline in my city is over $5/gallon even with all of my tax money that subsidizes it. And of course, lower middle class pays the highest effective tax rates generally. So having a budget of $200-300/month for food is relatively normal for a single person with a median income.