Diners can expect menu substitutions, higher prices at restaurants as food costs rise [FOX Business Network]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: FOX Business Network
David Nicholas of Nicholas Wealth Management on the latest Consumer Price Index numbers, inflation, the Federal Reserve and today's markets. Diners may be seeing substitutions on menus as inflation continues to send food prices soaring, industry experts anticipate. Meat prices continue to rise with the price of beef and veal up 3.3% from April 2020, according to data released by the Bureau of Economic Analysis. The price of pork also spiked to 2.6% in April and was up 4.8% compared to April 2020. Poultry prices were also up about 1% in April. Diners may be seeing substitutions on menus as inflation continues to send food prices soaring, industry experts anticipate. (iStock) "Right now you're looking at significant food cost increases -- a case of chicken was $40, now it's about $130 per case. Prices are going up at about 1.5% or 2% per month. You're going to start seeing the dumbing down of food [on menus as a way for restaurants] to try to stay ahead of this inflation," Ed Re
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/23/24 - Form 144
- 4/23/24 - Form 4
- 4/18/24 - Form PX14A6G
- MCD's page on the SEC website