Shake Shack faces most price hike complaints, new study says

Dec. 19, 2024 | On the Money

INDIANAPOLIS (WISH) — Here is a look at Thursday’s business headlines with Jane King, where she discusses the Dow’s 10-day losing streak and Shake Shack facing the most price complaints.

Dow extends losing streak to 10 days

The Dow plunged Wednesday on a disappointing outlook from the Federal Reserve.

The blue-chip index extended its losing streak to 10 days, meaning the Dow has now fallen for 10 days in a row.

Federal Reserve expects longer inflation period

The Fed now anticipates inflation will remain stubbornly above its target range for longer than it had initially expected.

Now the Fed expects only two rate cuts next year.

Supreme Court could make TikTok decision

The Supreme Court said it would decide the constitutionality of a law that would effectively ban TikTok in the US if the social media app doesn’t shed its Chinese ownership.

With the ban set to take effect Jan. 19, the court scheduled fast-track oral arguments for Jan. 10 on whether the law violates the First Amendment.

Belief in Santa is gift to kids

Being on Santa’s “Nice List” pays well, according to a new study.

Parents whose kids believe in Santa plan to spend over $100 more on gifts this year than their non-believing counterparts.

The poll of 2,000 US parents who celebrate Christmas found 68% of kids aged 18 or younger believe in Santa, while 27% do not.

Commissioned by Slickdeals and conducted by Talker Research, the study showed believing in Santa also makes Christmas morning more exciting.

Shake Shack faces most price hike complaints

As fast food chains hike prices around the nation, one came out on top for being the priciest of all.

A new study from Preply found that Shake Shack received the most complaints for being overpriced, followed by Five Guys, which has been slammed for their “out of control” prices.

Earlier this year, Shake Shack raised menu prices by 3%.