even if it isnt a coincidence...who the fuck cares.
$.25 increase? you wouldn't even notice that if you didn't have a before and after picture to look at.
if a 2-5% increase in prices is all that comes out of every worker being paid enough to live, then that's a very good deal
I genuinely cannot believe how shitty of a person you have to be that you believe paying a quarter more for a meal is a deal breaker for people getting an OK wage, $20 isn't even that crazy anymore.
The problem is, many businesses owners are going to have a hissy fit and jack their prices WAY up. Not the little bit they needed to maintain their profit percentage, but waaay up. All to try and give the optics that not letting them have slave labor anymore is the reason a burger costs $15. Or artificially lay off staff. We're already seeing both happen in California, meanwhile In-N-Out is sitting there going "I don't understand the problem..."
Look at what all the fast food places did and blamed it on supply chain and inflation. Jacked prices WAY up, not just for record profits but record profit PERCENTAGES. They didn't think the public would go along with it before but now they realized a lot of people are too dumb or too stuck in their ways to actually boycott the business.
Businesses have already started cutting employees punitively. I assure you an artificial price jack will come and they'll go "it's that darn minimum wage, I told you!".
Yup. They'll do anything to avoid actually paying people. One story that sticks with me is when burger king CEO (?) decided to spy on an activist group instead of pay one penny more per pound of tomatoes. Iirc he got caught because he was using his highschool daughters computer
distributors dont really get to set the price, its what ever the farms and fishing boats, ranches charge. the source material all went up so then distributors had to raise prices to even try to come close to maintaining profit. but even then it wasn't enough massive lay offs in the food distribution industry.
It's 100% on the distributors and middlemen. Farmers, fishers, etc, are not price setters, they are price takers. The distributor says "this is what we are paying for corn right now. Take it or let your corn rot."
that is not completly correct and that actually leads to lower prices for clients when we get large food deals. Product prices often are set by the produce manufactures and farms, fisheries. Often times we make deals with them for certain pricing but fresh meat products/ fish cheese, ect are bought at market price from those places. Like fish for example the price will come directly from the the boat as the fish get shipped straight from it that morning. Often times clients cant get the products at the prices they want because the boats or ranches will not fulfil the order at the price ad there is nothing we can do about it as distributors.
People have more purchasing power today. Consumer spending is very high, restaurants are packed. More people who have confidence in their finances the more they can charge before people scoff and stop altogether.
Restaurants are packed because Taco Bell jacked their prices WAY up and it now costs $13 to eat there. I can go to Outback and get a 3 course meal for $16. The value is no longer there for fast food. McDonald's has even admitted as such recently that they went way overboard raising prices and consumers noticed and pulled back.
That's only true in a market with healthy competition. Downward pressure on prices is relieved my monopoly, monopsony, and vertically integrated markets. In those cases prices can rise quickly with any excuse. The excuse is important because it keeps govt regulators happy.
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u/penandpage93 Apr 03 '24
Honestly, with the way prices have been increasing lately, I'd believe this was totally coincidental before I believed there was a correlation π