California Fast Food Prices Skyrocket Following Imposition of $20 Minimum Wage
The price of fast food restaurants in California has surged after the state imposed a $20 minimum wage law.
According to an analysis from Kalinowski Equity Research, fast-food restaurants across the Golden State have hiked prices by around eight percent since the law went into effect at the beginning of this month.
The New York Post reports:
Wendy’s raised its menu prices by around 8% while Chipotle Mexican Grill hiked its prices by approximately 7.5%. Starbucks, the Seattle-based coffee chain, raised the prices of its menu items at its California locations by around 7%, while Taco Bell hiked its prices 3%, the report found.
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It found that Burger King instituted an average price increase of 1.4% for its Whopper Meal and 2.1% for its BK Royal Crispy Chicken Meal at the 25 locations.
