3 Fast Food Restaurants Planning to Hike Prices to Offset New $20 Minimum Wage

California increased the minimum wage for fast-food workers to $20 per hour on April 1, potentially prompting higher restaurant prices. The new law also establishes a fast-food council authorized to annually adjust wages by up to 3.5% based on inflation. California’s minimum wage is $16 hourly, surpassing the federal rate of $7.25.Fast-food restaurants intend to raise menu prices to counterbalance the increased wages. According to Jon Tower, a Citi analyst specializing in restaurants, these higher prices, r ...