Sonic announces $1.99 value menu: What's in it

(WJET/WFXP) — Sonic Drive-In is the latest fast-food restaurant to join the growing “price war” for more customers as inflation continues to drive up prices.

The “FUN.99” menu features many of the most popular items plus a new addition, all for just $1.99. Customers can grab a Quarter Pound Double Cheeseburger, Chili Cheese Coney, Queso Wrap, Small Tots and any 16-ounce shake, each for $1.99.

“Now more than ever, consumers value affordable food, but they shouldn’t have to settle for the same old discount offers or boring meals,” said Ryan Dickerson, chief marketing officer of SONIC, in a press release.

The menu prices are available all day every day and remain a permanent addition to the menu.

A recent study by FinanceBuzz found that menu prices have increased on average by 39% to 100% over the past 10 years. That’s more than the general inflation rate of 31% over the same period, according to the Bureau of Labor Statistics.

Many national chains have decided to start a “price war” and try to offer the most attractive deals.

These include McDonald’s, which announced a $5 meal deal last month (though it could cost $6 in some parts of the country). Taco Bell has launched a $7 “Luxe Cravings Box” that includes four items and a medium drink. Wendy’s recently launched a $3 breakfast combo deal, while Starbucks added its first “Value Menu” in June.

However, not everyone is cutting their prices. Olive Garden announced last month that it would raise some of its prices after a drop in sales last quarter.

Nearly 80% of Americans say they consider fast food a luxury, according to a survey released earlier this year.