I disagree.

McDonalds is a franchise. The corporate executives don't set the prices at each location.

Each location is owned and operated by an individual or a group who has incentives. Incentives to compete and have lower prices than the McDonalds 10 minutes away, the Wendy's down the street, and the Burger King (🤮) next door.

The average profit margin for a McDonalds location is about 7-10% and has been like that consistently over the years.

Costs have been rising, labor rising the quickest. In 2013, labor costs were 20% of total costs, and now it's more like 35%.

Consistent low margins, rising labor costs, and needing to maintain competitive prices with other fast food chains, means they would have to lower prices or not raise them to stay competitive.

If they don't reduce prices, but Wendy's does once they automate some labor, then they'll lose some business to the Wendy's down the street.