Democratic senators slam McDonald’s for menu price hikes

Three senators are asking McDonald’s about its menu price hikes in recent years, arguing the increases are higher than they should be — even with inflation.

Three Democratic senators are asking McDonald’s about its menu price hikes in recent years, arguing that the increases are higher than they should be — even with inflation and rising operating costs.

In a letter sent late Monday afternoon, Sens. Elizabeth Warren of Massachusetts, Bob Casey of Pennsylvania and Ron Wyden of Oregon demanded that McDonald’s President and CEO Chris Kempczinski explain the chain’s pricing decisions.

“McDonald’s own reports indicate that the company’s price increases may be outstripping inflation,” read the letter, which was shared first with NBC News. 

Operating expenses at McDonald’s increased by 16.5% from 2020 to 2023, while its net profit margins increased from about 26% to 32% in the same period, according to the letter.

 “As a result, McDonald’s net annual income rose by over 79% — to nearly $8.5 billion — from 2020 to 2023,” it said.

https://www.nbcnews.com/news/us-news/democratic-senators-slam-mcdonalds-menu-price-hikes-rcna176380

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