In continuing on the theme of a recent post about inflation and its embedment in our finances, I came across several items related to food and finances. 

A recent CNBC article titled “McDonald’s exec says average menu item costs 40% more than in 2019” was quite eye-opening on the food inflation front. This 40% increase over five years implies an annual inflation rate of about 7.45%, a significant figure that highlights the impact of inflation on our everyday expenses.

According to a Fox Business report, a Chipotle chicken burrito cost $6.50 in 2019. Fast forward to now, and the same burrito is priced at $10.70. That’s a 64% increase in just 5  years, which implies an annual inflation rate.

Eating out, in general, costs significantly more. Now, even diners, which are known for better quality food than fast-food joints, can easily cost $20 to $30 per person for a small appetizer, a meal and a soft drink (liquor will quickly increase that figure). 

Adding in tax (6%+ here in NJ) and tip (20%), can easily result in a final cost of $27 to $38 per person.      

Or over $100 for a family of 4.

Not exactly budget-friendly.