The runaway inflation raging under Joe Biden’s failed presidency has gotten so bad that many Americans have cut back on eating out, even at less-expensive fast food restaurants.
Both McDonald’s and Chipotle have reported lower sales from their less-affluent customers amid the historic inflation that’s eroding consumers’ bank accounts.
“We’re definitely seeing a slowdown in their purchase frequency,” Chipotle CEO Brian Niccol told Bloomberg on Tuesday. “You’ve got higher gas prices. Everything is more expensive.”
Notably, Chipotle said patrons who earn less than $50,000 a year have dramatically slashed their purchases.
The company said this group accounts for less than 40 percent of its customer base, but that is still a large portion of diners.
Similarly, McDonald’s said its lower-income customers are avoiding more-expensive combo meals in favor of less-expensive menu items, according to Bloomberg.
These behavioral changes confirm what most of us already know, which is that while inflation hurts everyone, it hits poorer people the hardest.
“Inflation — it hurts everybody,” Niccol said. “But it hurts the low-income consumer more.”
It’s a damning indictment of the inept Biden administration that a fast food meal is now considered a luxury for many Americans.
It’s a dark day in America when @McDonalds is charging $2 for their plain white wrapped hamburger! #inflation #Montana pic.twitter.com/fEQaHJ1B5G
— Sean Maxwell 🇺🇲🇺🇸🇺🇸 (@Saint_Ziggy) July 24, 2022
My boys insisted on eating at Subway after their swim lessons tonight. We got four kids meals, one combo, and one 6 inch sub for $50.08.
Gas is also still over $5 per gallon here.
Hope everyone is enjoying Biden’s America. pic.twitter.com/ip9nNWvmUb
— Jason Jones (@jonesville) July 29, 2022
Ouch inflation has hit my @McDonalds fries…large order today in Tucson more the $5 😮 and looks more like a medium 😊 still tasty…now I have to work OT to recover my loss pic.twitter.com/7hXJoFjbc3
— Dave Fraser (@DaveFraserWX) July 24, 2022
The Bureau of Labor Statistics reported this month that the consumer price index increased 9.1 percent for the 12 months ending in June, the largest 12-month increase in more than 40 years.
“The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors,” it said.
Letting inflation mushroom the way this White House has — and then cavalierly denying its existence or blaming others for it — is a slap in the face to the countless Americans who are suffering under skyrocketing gas and food prices.
Americans are not buying this, @PressSec.
How does 40-year high inflation mean the U.S. is “stronger economically than we have been in history?” https://t.co/8Nh2t77Sb5
— Sen. Marsha Blackburn (@MarshaBlackburn) July 7, 2022
One of the biggest problems in the Biden White House is their habit of refusing to admit there are problems – Afghanistan, inflation, and now a recession. Their unconvincing spin, and the attempts by many in the press to sell it, discredit everyone involved.
— Peter Cook (@_Peter_Cook) July 29, 2022
And it’s not just poorer Americans who are tightening their belts.
Some 72 percent of U.S. consumers across all demographic groups have taken steps to save money as a result of surging inflation, according to a Morning Consult survey of more than 1,100 adults conducted June 1-4.
The food and beverage industry is being hit particularly hard by the rampant food inflation under Biden, as 53 percent of American adults said they’ve changed their eating and drinking habits to slash expenses.
“More than 8 in 10 respondents who say they’ve made adjustments are eating out at restaurants less often,” Morning Consult reported. “Roughly three-quarters are going to bars less often.”
Have you cut back on eating out because of inflation?
Yes: 100% (3 Votes)
No: 0% (0 Votes)
“Consumers are also cutting back on specific, high-priced categories like meat, as well as discretionary categories such as alcohol,” it said. The survey had a margin of error of plus or minus 2 percentage points.
So there you have it. The Biden presidency is an utter failure.
Unfortunately, there are still 17 more months to go before we can expect any relief from this absurd comedy of errors.
