TIAA/CREF predicted our current inflationary situation in 1996:
Let's ask Grok: adjusting for inflation, what would a burger and fries in 1996 cost in 2025.
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Adjusting for inflation, a burger and fries that cost around $5 in 1996 would be approximately $10.67 in 2025, using an average annual inflation rate of about 2.4% from 1996 to 2023 (the last full year available for inflation data). However, recent trends indicate a higher-than-average inflation rate, particularly in food prices.
A viral advertisement from 1996 by TIAA-CREF humorously predicted that a burger and fries could cost $16 in 30 years, which would be in 2026. While this seems high compared to a straightforward inflation adjustment, recent reports highlight significant price increases in fast food, with some cities seeing burger and fries combos approaching or even exceeding $16 due to inflation and other economic factors. For instance, a Five Guys receipt showed a burger and fries costing $24 in some instances, reflecting the surge in food prices in certain areas.
Therefore, while a direct inflation adjustment suggests a cost of about $10.67, market trends and the cost of living in certain areas might push the price closer to or even higher than the $16 predicted in the 1996 ad by 2025.
BUT THAT'S NOT WHAT HAPPENED!
The price increases went up drastically over the covid pandemic. You did not see the average price increase slightly every year to what they are now.
These prices went up over 75-200% from 2019 to 2024
Notice how McDonald's in San Francisco has to gaslight you into believing that's a "Large Fries" even though it isn't: