ROCKFORD, Ill. (WTVO) — Inflation has hit all over the nation, but it seems to be subsiding. That is not the case for fast food.
According to data from the Labor Department, inflation has been going down as of January 11th, 2024, but that has not spread to fast food chains.
Grocery prices have risen 1.3% overall in 2023 but dining out has risen a whopping 5.2% according to the latest Consumer Price Index report .
Yum Brands, which owns Taco Bell, KFC and Pizza Hut, has reported Wednesday a decline in sales this fourth quarter.
Taco Bell slid from a growth of 11% for the quarter last year to 3% for this year according to CNN .
“This trend has continued into the first quarter, and we expect that sales impact decreased over the course of 2024,” said CEO David Gibbs.
Yum Brands is the third fast-food company to report a dip in their earnings as consumers still experience inflation.
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