Fast-food outlets like McDonald’s have always been a place where you could get a cheap meal compared with the high prices you would pay at most restaurants. But even at the low end of the curve, inflation pushes costs higher, forcing more affordable chains like McDonald’s to increase their prices as well. As a result, you might be in for some sticker shock if you haven’t been to McDonald’s for a while.
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McDonald’s has certainly done its level best at containing costs while still providing customers the food they expect. But prices are reaching the point that eating out at McDonald’s isn’t the bargain it once was. With household budgets stretched tighter than ever, a night out at McDonald’s isn’t as much of a cost saver as it used to be.
Here’s a look at how McDonald’s prices have increased over the years, and where it sits in terms of affordability for the average American.
The Big Mac Index
The so-called “Big Mac Index” was created in 1986 by The Economist magazine to track the prices of the eponymous sandwich in a variety of countries. Although initially meant to be a bit tongue-in-cheek, the Big Mac Index is still cited even by academics as a good way to track a variety of global economic factors, such as currency strength or weakness and the effects of inflation. Even the Federal Reserve Bank of St. Louis uses the Big Mac Index as a way to compare food prices versus the overall Consumer Price Index (CPI).
According to the Fed data, the price of the Big Mac Index has gone up significantly more than the CPI since 2012, when it first began tracking the comparison. Of particular note is the period from 2018-2024. While the Big Mac Index and the CPI trended almost in lockstep from 2018-2021, inflation began surging in that year, peaking in the summer of 2022. While the Big Mac Index was slower to spike, it has also continued higher, even as the CPI fell from roughly 9% to 3% over the ensuing two years.
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Overall Price Gains Since 2014
A study by FinanceBuzz shows that average menu prices at McDonald’s have grown between 39% and 100% since 2014. This confirms the St. Louis Fed data, as it shows gains across the board on McDonald’s menu items that outpace the CPI’s gain of just 31% since 2014. Perhaps even worse, FinanceBuzz data shows that prices at McDonald’s have risen more than those at Popeye’s, Taco Bell, Chipotle, Jimmy John’s, Burger King, Wendy’s and numerous other national chains.
The FinanceBuzz data shows that the price of a Big Mac has risen from $3.99 in 2014 to $5.99 in 2024, a gain of 50%. But that’s nothing compared with the price increases of the Quarter Pounder with cheese meal, medium fries, McDouble and McChicken sandwich, which have risen 122%, 138%, 168% and 199%, respectively. With the exception of the price of a medium drink, which has only risen 25%, the 50% price gain exhibited by the Big Mac itself was actually the smallest price gain among major menu items.
Consumer Perceptions
Unfortunately for McDonald’s, many consumers now think that the restaurant chain, along with its peers, is getting far too expensive. According to a 2024 LendingTree survey, nearly 80% of Americans see fast food as a “luxury,” an astonishing categorization for a supposedly affordable option. Perhaps even more shockingly, 46% of survey respondents said that fast food is now as pricey as local sit-down restaurants, and another 22% say it’s actually more expensive. When searching for an affordable, go-to meal, 56% say that “cooking at home” is the best option.
These statistics are truly stunning and show just how much the cost of fast food has risen, particularly in comparison to other options like more formal restaurants.
How Is McDonald’s Trying To Offer Value?
McDonald’s may have its hands full trying to juggle customer value and corporate profits, but it hasn’t survived for 85 years by being a poorly run company. Company executives are quite aware that prices have gotten too high for some consumers, and they are adapting to the challenge.
On Aug. 6, 2025, the company’s CEO Chris Kempczinski told analysts and investors that many customers expect to be able to get a combo meal of a burger, fries and a soda for less than $10. According to Kempczinski, “Too often…you’re driving up to the restaurant and you’re seeing combo meals could be priced over $10, and that absolutely is shaping value perceptions…We’ve got to get that fixed.”
The company’s answer? Promotions. In April, McDonald’s offered a meal deal tied into the release of the the Minecraft Movie, along with the introduction of value-priced snack wraps. It also extended a winning promotion from last summer, in which consumers could get the choice of a McDouble or a McChicken sandwich, small fries, a four-piece serving of Chicken McNuggets and a small drink for $5. This is certainly a value compared to other offerings on the McDonald’s menu.
The company is also leaning heavily into its app, which rewards visitors with points for purchases and offers a changing roster of limited-time deals. For those with self-control, the app can be a great way to get more affordable meals at McDonald’s. But it shouldn’t come as a surprise that the company leverages its app as a marketing tool, enticing you to ultimately spend more at the restaurant than you would have if you were not subject to its endless promotions.
The Bottom Line
You’re not imagining things — prices at McDonald’s have risen significantly over the past decade, essentially doubling on average. If you’re still looking for an affordable meal at the fast-food giant, look for heavily discounted promotional offers both in-store and on the McDonald’s app — just don’t fall prey to marketing designed to get you to spend even more.
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This article originally appeared on GOBankingRates.com: McDonald’s Prices Have Outpaced Inflation Since 2014 — Here’s What It Really Costs Now
