Even NBC is being forced to acknowledge the reality of the pain being imposed on Americans by Joe Biden’s surging price inflation. On Tuesday, the Today Show ran a feature about the rapidly disappearing fast food deals many have come to enjoy and depend on, like Little Caesars Hot-N-Ready $5 takeaway pizza.
Reporter Tom Costello reported that higher supply and production costs nationwide are probably causing most Americans to see food deals that are not as cheap as they have become accustomed to. He reported that spiking wage costs incurred to battle labor shortages are being “passed down to all of us.” He added that almost all restaurants have skinny margins. They cannot absorb extra costs.
The Labor Department reported that consumer price inflation hit 7 percent through the last year, increasing restaurant food prices overall by at least 6 percent. Rising meal prices have led to consumer difficulties and increasing criticism of Biden’s economic policies.
The Little Caesar’s staple pizza that millions of Americans enjoy has gone up for the first time in two decades, jumping from $5.00 to $5.55. Domino’s has cut the availability of its popular $7.99 meal deal to online purchases only, and Popeyes Big Box Deal shot up by $1.00 in a single step.
Chipotle told customers in a statement last year that increasing wage costs were leading to price increases of around 4 percent. The hike led to increased customer costs of 30 to 40 cents for average meals.
In addition to skyrocketing labor costs, food costs have exerted increased pressure on restaurants. Meat, chicken, fish, egg, and dairy costs have all shot up over the last year. Beef has gone up 20.1 percent, while pork prices have risen by 14.1 percent. Supply chain issues have led to shortages and reductions in traditional menu selections in many parts of the country.
Reporting further indicates that dine-in eating has seen huge increases recently as well. The Washington Free Beacon stated that restaurant dining in the nation’s capital has surged by more than 30 percent in some iconic locations.