09.04.2024 11:01 | Monitoring
Do you remember how much you ate at McDonald’s in 2018? In the US they remember. At that time, there was still a so-called dollar menu. When did you get a McChicken sandwich for one dollar, then CZK 21.75. Since then, McDonald’s has become more expensive for Americans. Several times. Even economic dailies are already noticing the increase in price. But the Americans probably didn’t see the prices in the Czech Republic, where the “soft meat” is significantly more expensive than in the world’s largest superpower.
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Description: Making McChicken Sandwiches
Inflation has been a term that has been thrown around a lot in recent years. After all, Václav Klaus, in his nineteen points from his study Partial reforms are not enough – the solution is a systemic change, the first thing mentioned is the necessity to get rid of today’s inflation. But for some, inflation is difficult to grasp when it is expressed in percentages and, moreover, in aggregate. But there are numbers that clearly and accurately show its development.
One such is the price in the McDonald’s chain, which also serves as the basis for the so-called Big Mac Index of The Economist magazine. In January, a post by economic account Weimar Silver Baron caused quite a stir, pointing out that in 2018 a McChicken sandwich cost just a dollar, a significant item on the so-called dollar menu. Today it costs two dollars and 89 cents.
This was a dollar in 2018: pic.twitter.com/WAIXpw82fT
— ??Weimar Silver Baron?? (@BankerWeimar) January 22, 2024
The person has now returned to this post. “I remember hearing for years that the Economist’s Big Mac Index was a great method of measuring inflation within and between countries. I don’t hear it much anymore. It shocks people from a dollar to 2.89,” he commented on the difference, when the price of a sandwich is almost triple.
I remember for years reading how the Big Mac index in the Economist was a great way to gauge inflation within countries as well as between them.
Don’t hear too much about that anymore.
2.89 mcchicken from 1.00 shocks people
— ??Weimar Silver Baron?? (@BankerWeimar) April 9, 2024
There were more price alerts. “This is actually crazy, of course everyone knows inflation is getting a little outrageous, but let’s break it down: This is the state of the McDonalds bargain menu as of today compared to the dollar menu. McDonalds has always been a staple of cheap and convenient eating because everyone could afford it.
Prices go up over time, but not like this. I remember very specifically that McChicken was a dollar and seven cents ten years ago, a dollar and nine cents after the tax changes. And every drink cost the same,” said another witness. He attached the menu from 2013 in the photo.
… because everyone can afford it. Prices are naturally subject to surge a little bit over time, but not this much. I specifically remember a McChicken costing $1.07 back in the day (10 years ago), then $1.09 when the state’s tax policy changed. Any size drink was the same price
— GENO?? (@genoscabin) April 3, 2024
You could score a large drink too, huge play for the culture. This image is from 2013. What happened… we used to be a proper country. Now fast forward to today in 2024, the prices have skyrocketed. Half the menu isn’t available anymore… pic.twitter.com/bW6bk364q5
— GENO?? (@genoscabin) April 3, 2024
Meanwhile, some people in the US have the said sandwich even for $4.69.
well hot dog. back in my day these items here belonged to a little somethin called the “dollar menu.” pic.twitter.com/bXDUJbTnnL
— Lewis (@ctjlewis) April 5, 2024
The price changes have already been noticed by the big newspapers, such as Business Insider, which reminds that the price of food in the chain increased by an average of 100% in ten years, i.e. twice, but inflation was “only” 31%. And that the famous “one dollar menu” is gone. McDonald’s responded that the study on which the article is based “is not an accurate picture of McDonald’s restaurant prices.” But they did not provide the exact details of how they raised the prices. Britain’s DailyMail has a McChicken sandwich the price even (without a cent) three dollars, or 199%.
And how is the Czech Republic doing? In terms of inflation, pretty good. Price information can be provided, for example, by discount events. “In the coupon menu you can find, for example, a Big Mac, 6 pieces of Chicken McNuggets, or a McChicken for CZK 39, while their regular price is CZK 75,” it is stated on the website Skrblík.cz with the fact that this promotion only lasts until February 4, 2018. Current price one McChicken is then from 99 CZK. Which is an increase of one third.
But the American price has leveled off relatively. In 2018 the average exchange rate was 21.75 CZK to one dollar. So, while the American ate for this amount at the time, the Czech had one sandwich more than three times more expensive. Today one dollar is 23.36 CZK. The Czech sandwich comes out to $4.23. The difference between the Czech Republic and the USA is therefore no longer as vast as it used to be.
The price of a McChicken sandwich on the Czech McDonald’s website
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author: Karel Šebesta
2024-04-09 09:04:00
#Expensive #McDonalds #sleepy #prices #Czech #Republic
