January 1, Hits Hard: Fast Food Crisis Linked to Chickenflation and Digital Price Gouging

Chickenflation is upon us, making fast food prices soar, and it seems like the political class is too busy debating Joe Biden’s nomination to notice.

Welcome to the fast food price crisis. An online influencer recently showcased the $43.99 price tag for a 12-piece fire-grilled chicken meal at El Pollo Loco. Fast food is no longer synonymous with cheap food, and Bidenflation is becoming more evident each day.

Walmart has recently introduced digital shelf labels. They claim it’s about “improving efficiency and customer satisfaction” and “integrating sustainability” into their work, according to Daniela Boscan, a Walmart “Team Lead Manager.” However, this move seems more about price gouging and less about the environment.

Wendy’s attempted to introduce “dynamic pricing,” corporate-speak for charging as much as they can. They quickly backpedaled when consumers saw through the lies.

As digital price tags become more prominent, the media is trying to convince us that prices are “stabilizing.” Shrinkflation, where the price remains the same while size/quantity decreases, is another issue for those claiming stabilization. Chipotle recently went viral for their shrinking portions.

When the price of chicken skyrockets, everyone suffers. Consumer credit card debt surged in May, with total consumer credit rising to $11.3 billion. While borrowing is usually a sign of confidence in future income, it seems Americans might be borrowing just to make ends meet.

With the economy in a precarious state, let’s hope it doesn’t lead to financial collapse. The upcoming Republican National Convention, June consumer price index, and producer price index data might provide a clearer picture of the economy and potential future interest rate cuts.

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