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On a related note, article in April 8, 2024 WSJ:
Fast Food Flashes Worrying Signal
The take away -- no pun... -- is fast food buying patterns are changing and signaling all is not well in quick-serve restaurants (QSR). Core customers and lower income customers are changing their dining habits. Not ordering french fries is one way.
The article states that the consumer-price index for food away from home has risen by nearly 30% in the past 5 years. In the comparable period immediately before the pandemic it gained 14%.
And in CA the $20-an-hour minimum wage will begin to exert its influence.
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