Yahoo Finance's Allie Canal breaks down how the prices of chicken sandwiches at fast food restaurants like Popeye's, Chick-fil-A, and McDonald's are going up.
BRAD SMITH: Your favorite fast food chicken sandwich likely costs more today than it did six months ago. Are we still in the chicken sandwich wars? All right, well, on pricing maybe.
JULIE HYMAN: Yes, apparently.
BRAD SMITH: Despite inflation cooling down in July, food prices continue to skyrocket. According to the Bureau of Labor Statistics, known in your hood as the BLS, July Consumer Price index, CPI, the cost of food rose 10.9%, highest increase since May of '79. Yahoo Finance's Alexandra Canal joins us now to break down the impact. OK, chicken sandwich wars here. Let's talk it a little bit, Allie. What's going on here?
ALEXANDRA CANAL: I mean, Brad, take my cheap gas, but not my cheap chicken sandwiches. I think that's the moral of this story here. But according to exclusive data that Yahoo Finance-- oomph. I'm sorry, I'm so verklempt by the chicken sandwiches. But [INAUDIBLE] that Yahoo Finance received from Edison Mail, formerly Edison Trends, you'll see that average price of chicken sandwiches has steadily risen over time, 18% higher on a year over year basis.
Now, this is based on data from over 240,000 online direct orders from 10 quick service restaurants. And if we dig into that data a little more specifically, you'll see on your screen here that these are individual sandwiches. Now for example, if we look at the price of both Popeyes spicy chicken sandwich and McDonald's spicy crispy chicken sandwich, since January, that has risen 13%.
But on a year over year basis, Popeyes saw a whopping 22% increase for that sandwich. So folks were paying $3.92 in July of 2021. July 2022, they're now paying $4.80. And if you want to take that even further in context, we could look two years ago between July 2020 and July 2021. The cost of a Popeyes spicy chicken sandwich, that cost actually decreased by 6%. So down 6% July 2020 to July 2021, now up 22% July 2021 to July 2022. So inflation definitely real here.
BRIAN SOZZI: I want to like that new Panera chicken sandwich, Allie. I'm just not there emotionally quite yet. All right.