KFC Price Zinger
Disclaimer: Just so I don’t run a “fowl” of the regulators let me just say nothing in this post should be construed as investment advice. I not telling allyuh what to invest in eh. I wouldn’t look good in prison denim.
Anyway…I saw a headline that KFC raised their prices again, the second time since December 2023, and I immediately started to cuss. I was like “how the fowl foot they expect me to afford a box of dead after I go Simmy de Trini comedy show on March 10th?”. Then I remembered I stopped eating meat over 5 years ago and even before that I stopped eating KFC for years following significant protests from my colon. Still though, there are plenty people who love off their original recipe, artery clogging, belly wukking, snack pack. I used to ‘love off’ Nessa the ‘snack pack’ from Arima but she get bowl out from Nadia.
Prestige Holdings Limited, the franchise owner of KFC, stated that the latest price increase is as a result of the increase in the minimum wage that happened this year. WHAT! A business passing on increased costs to the consumer??! I for one am shocked and flabbergasted! Somehow I feel like there is a term for that though…oh yeah…wickedness!….no that’s not it….oh right, it’s wage push inflation. It doesn’t take an economist or CFA Charterholder to know that’s what was bound to happen. Like Machel entering Calypso Monarch….what allyuh really expected to happen dey?
What burning people bumsee more than a spicy dinner special with this KFC malarkey is that PHL announced TT$55.9 million in after-tax profit in 2023, a whopping 57.7% more than 2022. Now as a finance professional my first inclination would be to say doh vex when a company making significant profits, find a way to eat a food too. PHL is a publicly traded company that pays dividends to shareholders. If you feel they “too wicked” there is a way for you to wet your beak as well. Again, I’m not saying to run out and buy PHL shares but don’t act like you’re powerless against the corporate La Diablesse and dem. In general, when a company shows profit growth and has the ability to raise prices to customers without them revolting and going by Japs or frying their own chicken in old oil (a concept called inelasticity of demand) that is a company worth researching.
Anyway, this “spicy cripsy” silliness gives me the perfect segue into launching a new segment to this blog, I call it “PRACTICAL FINANCE - a common sense approach to managing money”. The 10 of you who’ve visited my YouTube channel would have seen a few awkward videos of me trying to explain basic personal finance concepts in a practical manner. While I am passionate about doing my part to improve financial literacy, those videos were way too long. The new plan is to do a weekly segment focusing on personal finance topics to help those who struggle with managing whatever “cream” they have. I haven’t decided yet on the forum, YouTube vs written blog but allyuh could let me know. We gonna keep the topics like Nadia…short and sweet.
I’ll still do TANA-NOMICS to explain big economic concepts but PRACTICAL FINANCE is to help allyuh keep Courts from coming to repossess that treadmill you use to tell people that you exercise, when you really just use it to hang up clothes.
TANA