Free Trial

McDonald's says $18 Big Mac meal was an 'exception' and news reports overstated its price increases

The McDonald's restaurant logo and golden arch is lit up, April 20, 2006, in Chicago. McDonald’s plans to introduce a $5 meal deal in the U.S. in June 2024 to counter slowing sales and customers’ frustration with high prices. (AP Photo/Jeff Roberson, File)

McDonald’s is fighting back against viral tweets and media reports that it says have exaggerated its price increases.

In a post on the company’s website Wednesday, McDonald’s U.S. President Joe Erlinger said reports suggesting the price of the average Big Mac has doubled since 2019 were false. McDonald’s said the average U.S. Big Mac was $4.39 in 2019 and now costs $5.29, a 20.5% increase.

“For a brand that proudly serves nearly 90% of the U.S. population every year, we feel a responsibility to make sure the real facts are available,” Erlinger said.

Erlinger acknowledged that he and many franchisees were frustrated by a post on X last summer about a Big Mac meal in Connecticut that cost $18, calling the price “an exception.” He noted that franchisees own and operate 95% of U.S. McDonald’s locations and set their own pricing but “work hard to minimize the impact of price increases.”

The average U.S. price of a Big Mac meal, which includes a sandwich, fries and a drink, currently is $9.29.

Still, the Chicago burger giant said the cost of some items have seen bigger price jumps than the Big Mac. The average price of medium fries was $2.29 in 2019 and is $3.29 now, a 44% increase.

McDonald’s said the average price of all menu items has risen 40% over the last five years, to account for a 40% average increase in the cost of labor, paper and food. That is higher than overall consumer prices, which have increased 21% since December 2019, according to government figures.

McDonald’s saw a marked slowdown in store traffic in the first three months of this year as inflation-weary customers in the U.S. and other big markets ate out less often. As a result, the company promised more deals.

Next month, McDonald’s is expected to introduce a $5 meal deal across the U.S. that will include a sandwich, a four-piece McNugget, small fries and a small drink.

Erlinger said he hopes customers will find the company’s upcoming deals “meaningful.”

“It’s clear that we — together with our franchisees — must remain laser-focused on value and affordability,” Erlinger said.

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

10 Best Cheap Stocks to Buy Now Cover

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

This Unique Robotaxi Play Could Deliver 10X Returns
NVIDIA’s Secret Picks? 3 Stocks Rising With the AI Giant
NVIDIA Earnings Preview: HUGE Stock Move Ahead

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines