Are you feeling the urge for some Chick-fil-A? Prepare to spend 21% more than you would have just two years prior. Recent data shows that this popular chicken chain has significantly increased its prices.
Back in 2022, Chick-fil-A implemented a 15% price hike. Following this, in January 2023, the brand announced another 6% rise across its menu in over 3,000 outlets. This adjustment was largely attributed to rising minimum wages and other economic dynamics, as highlighted in a Newsweek report, which sourced information from the culinary industry blog Food Truck Empire.
As a result, the average cost of Chick-fil-A’s famed chicken sandwich has soared to $5.79, while an eight-piece chicken nugget set now costs $5.95. These items were priced under $5 in 2022, as per Food Truck Empire’s findings.
However, these prices aren’t uniform nationwide. In areas like New York City, where living expenses are approximately 30% higher than the national average, prices are steeper. There, a Chick-fil-A sandwich is priced at $6.99, and the nuggets at $7.09, as noted by The New York Post.
This uptick in prices coincides with the Federal Reserve’s ongoing efforts to curb inflation to a 2% target – a benchmark the economy hasn’t seen since 2012. The latest Consumer Price Index indicated a 3.1% rise in the cost of services and goods as of last November.
Interestingly, the food index showed a slight deceleration in November, registering at 0.2%, a drop from October’s 0.3%, according to the Bureau of Labor Statistics. This report also mentioned a decrease in the chicken price index.
Requests for comments from Chick-fil-A representatives were not immediately addressed, as reported by The Post.
Concurrently, several regions, including New York, witnessed an increase in minimum wages. In New York, the minimum wage rose from $15 to $16 per hour.
By 2026, New York’s minimum wage is projected to reach $17 in the city and its suburbs, and $16 in other parts of the state.
Additionally, 22 states have recently raised their minimum wages, leading to around 30 states now offering a minimum wage higher than the federal standard of $7.25, set in 2009.
It’s not just Chick-fil-A experiencing this trend. The cost of a Big Mac, for instance, is expected to hit $15 in states that have raised their minimum wages, excluding additional items like fries.
Brandon Arnold, Executive Vice President of the National Taxpayers Union, expressed concern over California’s decision to elevate fast-food wages to at least $20. He warned that such measures could lead to increased prices, reduced labor costs, or both. He emphasized the unfairness of this situation for both laid-off employees and customers facing inflated prices, such as paying up to $15 for a Big Mac.
