It's not surprising that the cost of a hamburger is related to the overall inflationary environment. Inflation takes place when a steady rise in commodity prices is unmatched by a currency's purchasing power: in other words, your money buys less than it could a year ago.
The Bureau of Labor Statistics reported that the as of June 2022 was the most extreme increase since 1981. Continued fallout from the COVID-19 pandemic, ranging from disruptions to the supply chain to the effects of the stimulus package, are a few reasons inflation remains so high.
Experts say that inflation prices 鈥斺�� and subsequently, hamburger prices in 2022 鈥� are unlikely to go down any time soon. So how can conscious consumers cope with these rising costs? One tip is to look for restaurants in your area offering specials, often on slower weeknights.
"If you have kids," says Dr. Brian Walkup, Associate Professor of Finance at the Crummer School of Business at Rollins College, "be aware of what days your favorite restaurants have Kids Eat Free promotions."
Another idea is to skip the soda, which can cost up to $3 per person 鈥� order water instead, which is better for your health and your final bill. Choosing something off the kids' menu, especially if you have a light appetite, can also save you money.
Finally, consider preparing more meals at home. The cost of a hamburger cooked at home is much lower than one purchased from a restaurant. In general, cooking at home can be part of an overall strategy to . While inflation affects supermarkets as well, Jill Fopiano, President and CEO at O'Brien Wealth Partners, says that grocery stores "require less labor per customer than do restaurants, and they should not see as much price pressure."
Strategies such as buying in bulk at wholesale stores like Costo and Sam's Club, , meal planning and searching for sales can help consumers that gives them a little extra money left over at the end of the week. Finding ways to save in other areas will also make the cost of a restaurant dinner with a burger, fries, and soda go down a little easier.
METHODOLOGY
MoneyGeek analyzed menu prices for a burger, fries, and soda across major chains in the 50 largest cities in America by population size. We utilized allmenus.com and GrubHub.com to source 2022 prices 鈥� along with the Wayback Machine to source 2021 prices for those same menu items 鈥� to calculate price differences.
We sourced 10 different meal prices for each city, analyzing 145 major cities and local chains and burger restaurants to create average prices for our rankings. Note: El Paso, Texas; Louisville, Kentucky; Memphis, Tennessee; New Orleans, Louisiana; Wichita, Kansas; and Tulsa, Oklahoma, had less than 10 entries for meal prices.
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