Americans have long turned to fast food for a quick, convenient and cheap meal, but thanks to rising costs across the board, keeping their stomachs full can empty their wallets.

According to a LendingTree survey, nearly 80% of Americans feel fast food has become a luxury.

"Prices are crazy high," Texas resident Chris Silva told Spectrum News. "Prices have gone up and up and up and up."

John Kiernan, managing editor at personal finance website WalletHub, says fast food sticker shock is the new norm.

"Prices at the grocery store are actually kind of not as bad right now, but the fast food prices have increased more than that," Kiernan said.

Customers aren't the only ones feeling the pinch: Earlier this year, McDonald's sales dropped for the first time in four years. Market research company Circana says customer traffic fell 2% in the first half of 2024.

That's one of the reasons McDonald's is extending its $5 dollar value meal through December.

"That's a way to get customers in the door, I suppose," said Natalie Wisner, a New York resident.

As the value wars heat up, so do the customer savings: Taco Bell, Burger King and Wendy's are all advertising similar deals.

"What's clear is the big chains that have a lot of financial might are able to use that to distinguish themselves from the crowd and put in place these eye-catching, low-cost deals they can use as marketing tools," said Kiernan.

Fast-food restaurants are that hoping customers paying less will pay off.

"Anywhere that people can find some savings is likely to lead to more people going," said Kiernan.