Iβm surprised the two lowest ones are Subway and Starbucks. Whereβs the $5 foot long? And I guess Starbucks has always been expensive so $6 for a coffee isnβt much of an increase from what it was.
this post was submitted on 31 May 2024
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The $5 footlong hasn't existed for years (honestly maybe a decade) at this point. It's like a $10 footlong now.
Does every thread have to include a reminder of how old I am? I remember living life $5 at a time.
Yup, me too. I used to be able to get lunch for a week with $20 back in high school in the mid-late 2000's. Almost everywhere had a dollar menu where you could get a pretty decent meal for a few bucks. Over time the portions got smaller and more expensive though to the point where you can't really do that anymore.
I was surprised too, but then I found this vvv. This people are making 25 billion profit which now makes sense for the comparatively low percentage
https://www.macrotrends.net/stocks/charts/SBUX/starbucks/gross-profit
- Starbucks gross profit for the quarter ending March 31, 2024 was $5.914B, a 0.06% decline year-over-year.
- Starbucks gross profit for the twelve months ending March 31, 2024 was $25.104B, a 8.86% increase year-over-year.
- Starbucks annual gross profit for 2023 was $24.567B, a 12.01% increase from 2022.
- Starbucks annual gross profit for 2022 was $21.933B, a 7.93% increase from 2021.
- Starbucks annual gross profit for 2021 was $20.322B, a 28.43% increase from 2020.
i remember when starbucks first opened, dunkin donuts was selling plain black coffee for 10 cents a cup.
Probably because all food prices has outpaced inflation. If you've done any grocery shopping in the past two years between shrinkflation and price increases many food items have doubled in price.
The right wing always assumes everything is a government conspiracy and the left wing assumes everything is a corporate conspiracy and neither group bothers to think about any other reason for things like this.
But before blaming the government for "printing money" (when the central banks have done the opposite by raising interest rates) or assuming every grocery store in the world got together to raise prices all at once, maybe we should consider other factors.
There could be food supply issues. Given this is a global phenomena, we should consider global food supply problems.
One thing that could cause global food supply is if there was a war in a part of the war that normally exports a large percentage of a staple food to the rest of the world. Where is wheat and grain normally produced? Is there a war happening there?
The fun thing about economics is the idea of substitutes. Bread is more expensive now? Just have more rice. Grain is too expensive for cattle feed? Mix in some more corn. If you're the only one doing these tricks to reduce your food costs, it works really well. But unfortunately everyone is substituting which results on food prices across the board going up.
Also Climate Change does have an effect on agriculture. Droughts and floods mean less food is produced. So places which were reliable fields for farming aren't so reliable anymore. So while the war in Ukraine will eventually be resolved which will put some downward pressure on food prices, climate change will continuously be putting an upward pressure on the price of food.
Damn food trucks took our jobs.
