But 200 miles down the road, Dallas - with the same minimum wage - a Big Mac is selling for $5.69.And we compared those prices to each town's minimum wage.ĭetails: Austin, Texas -where the minimum wage is $7.25 an hour - is home to the cheapest Big Mac in the Axios Local world at $3.75 Big Macs, Chicken McNuggets and Egg McMuffins are just a few of the iconic offerings of.So we decided to make our own Big Mac Index, showing the price of McD's flagship burger in all of our Axios Local cities - the 14 current ones and our 11 coming-soon ones, including my own.Zoom in: Menu prices vary across the country, and even within cities. Big Mac prices have risen by a whopping 40% in the past 10 years, according to the index.2015 (see Exhibit 5) and per capita real disposable income is near record highs (see Exhibit 6).51. And according to Seeking Alpha, a Big Mac by itself cost just 1.60 in 1986. After the success of the Big Mac (1968), the quarter. A Big Mac, fries, and a Coke would set you back just 2.59 in the '80s, as this throwback ad so hilariously demonstrates.
By the 1980s, McDonald's was focused on selling meal deals, not just individual sandwiches and sides. 🍔 The Big (Mac) picture: McDonald's did not respond to requests for comment, but data from the Big Mac Index- which has been measuring the price of a Big Mac since the year the Oprah Winfrey Show debuted - shows that the price of a Big Mac nationwide rose 7% from 2020 to 2021. 1980s: 1.60, or 2.59 for a Big Mac Value Pack. It cites a 15.1% year-over-year increase in the Producer Price Index, which measures the cost of domestic goods, as well as a 12.1% increase in average hourly earnings for restaurant employees.Prices at full-service restaurants are even higher - they've gone up 8%, the biggest jump of any restaurant category.īallooning menu prices are being driven by the rising cost of food and labor, according to the report.Rising prices are hitting Americans where it hurts: the drive-thru.ĭriving the news: Fast food menu prices are up 7.2% year-over-year, according to a report released this week by the National Restaurant Association. The Big Mac Index is a price index published since 1986 by The Economist as an informal way of measuring the purchasing power parity (PPP) between two. It was introduced in the Greater Pittsburgh area in 1967 and. Data: The Economist, Bureau of Labor Statistics, Axios research Chart: Simran Parwani/Axios The Big Mac is a hamburger sold by the international fast food restaurant chain McDonalds.
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