The effects of rising costs could be hitting closer to home, this time impacting fast food prices, with one franchise owner in Manitoba reflecting the upwards trend of meals costs that many customers have to bear.
Nick Hagidiakow, the owner of two Dairy Queen locations in the province along with a Pita Pit, told 680 CJOB that customers are having to foot a bill that’s increased over the years. Meals that were normally on a deal for $7 a few years back have gone up to $9, he said, adding that bigger combos have gone up from $9 all the way up to $17.
It’s not just the cost of food that’s going up, however, as Hagidiakow noted that everything from the cost of food wrappers and paper bags to cups and straws are increasing. The percentage of those increases is by up to 8 per cent.
“We’ve got to raise pricing in order to stay afloat. And there’s also interest rates that come into play there. A lot of factors come into play when you’re pricing the product,” said Hagidiakow.
“Ultimately, we do need to raise pricing to cover our food costs and all of our costs together.”
Near the end of last year, Canadian researchers noted in their 2024 Food Price Report that food prices may increase by 2.5 to 4.5 per cent this year. Costs were predicted to go up in most categories, the highest being in the bakery, meat and vegetables category.
Aside from home-cooking meals and opting for fast food options, the price of dining out in restaurants are also going up. In a previous interview with Global News, Kelly Higginson with Restaurants Canada said that restaurants are left with having to raise their prices in order to cover some of their own costs increasing.
With money being a concern for many, it’s leaving many establishments to change or slim down their menus.