Nearly 80% of Americans now consider fast food a 'luxury' due to high prices

A recent survey by LendingTree reveals that 78% of Americans now view fast food as a "luxury" due to rising prices, with 62% eating it less frequently. Fast food costs have soared, outpacing inflation, making it as expensive, if not more, than dining at local restaurants. This price increase is particularly burdensome for lower-income families and those with young children, prompting more people to cook at home despite the convenience of fast food.

Financial struggles significantly impact Americans' perception of fast food as a luxury, especially among those making less than $30,000 a year4. According to a recent LendingTree survey, 78% of consumers now view fast food as a luxury due to the rising costs of meals1. This perception is even more pronounced among lower-income groups, with 71% of Americans earning under $30,000 annually considering fast food a luxury because they are struggling financially. This demographic is particularly affected as they traditionally relied on fast food for affordable, quick meal options. However, with the price of fast food increasing—outpacing even general inflation rates—these meals are no longer seen as economical. As a result, many in this income bracket are reducing their consumption of fast food and are instead opting for making meals at home, which they perceive as more budget-friendly despite traditionally viewing fast food as the cheaper alternative14.