in World News 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.
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. The report’s authors did the same for Chipotle, which was found to have boosted the price of its Chicken Burrito by 8.3% and its Steak Burrito by 7% at 25 locations in California between Feb. 7 and April 2.