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.
It might sound expensive in comparison to prices here in Europe, but on the other hand, American income levels are much higher, too. So adjusting for that, they are way cheaper than in Europe. And we live, too. While paying e.g about 8-9 USD for a gallon of fuel due to carbon taxes.
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.
I have to admit I’m an bit above the median income - but I’m still working my ass of for it. On the other hand I’m the sole provider for the family (my wife is handicapped), and I have two kids in University.
Health insurance is 570€/month IIRC for me, so it is not much different. The employer pays the same amount.
I’m lucky that I don’t have to bother with rent, but it was a lot of bloody years without a single bit of luxury to afford that, even here out in the sticks.
People would murder here for such dirt cheap gasoline.
Tax-wise, it is the same here. The rich deduct themselves poor or have any amount of other tricks to avoid taxes, there is nothing to get from the poor, so we in the middle have to provide the mones so the rich can get their subsidies…
I’m lucky that my food budget is a bit higher than that, but even with 200-300 a month I could easily survive with healthy home cooking. I survived on much, much less during my university times.