Nearly 80 percent of Americans now consider fast food to be a “luxury item” as families feel the squeeze from the Biden regime’s failing economy.
According to a survey from Lending Tree of around 2,000 adults, what was once considered an affordable option for low-income workers is fast becoming the opposite.
The company noted:
Thanks to rising prices, most Americans now see fast food as a luxury and are eating it less often, according to a new LendingTree survey. Rampant inflation has forced millions of Americans to reassess their spending habits. For many, that has meant fewer trips to the drive-thru for that burger, burrito or spicy chicken sandwich they love — and even a change in how they perceive fast food.
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Americans love fast food, but costs are forcing them to curb their cravings. 3 in 4 Americans typically eat fast food at least once a week, but the majority (62%) say they’re eating it less due to rising prices. In fact, 65% of Americans have been shocked by the high price of a fast-food bill in the past six months.
78% of consumers view fast food as a luxury because it’s become increasingly expensive. Additionally, half of Americans say they view fast food as a luxury because they’re struggling financially. This is especially true among Americans who make less than $30,000 a year (71%), parents with young children (58%), Gen Zers (58%) and women (53%).
The analysis continues:
For generations, fast food has been a quick, low-cost, convenient way for budget-watching Americans to feed their family on busy school nights, after a long day of work or even when no one feels like cooking but you don’t want to break the bank.
We know it isn’t the healthiest choice for us physically, but it could sometimes serve an important purpose financially for busy families living paycheck to paycheck and trying to make ends meet.
However, inflation is changing that. Most Americans (75%) still eat fast food at least once a week, but 62% of Americans say rising prices are forcing them to eat it less often.
Such reports are a reminder of how average Americans are being priced out by Joe Biden’s economy, with prices surging across the country amid soaring levels of inflation.
Among those most affected by the rising cost of fast food will be Californians, where prices have skyrocketed following the imposition of a $20 minimum wage.
According to an analysis from Kalinowski Equity Research, fast-food restaurants across the Golden State hiked prices by around eight percent since the law went into in April.
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