Producer Prices Index data for May showed prices businesses have paid for meat and poultry have spiked more than 20 percent since the start of the year.

Fast-food customers include both wealthier and lower-income hourly workers.

People with household incomes of $100,000 or more made up about 39 percent of fast-food visits in May, while people making less $25,000 comprised about 12 percent of visits, according to data from The NPD Group.

Those with incomes between $25,000 and $100,000 made up 49 percent of visits, the data shows.

Chains and franchisees that remove too many low-priced deals risk losing core customers who specifically come in for those items, said Mark Kuperman, chief operating officer at Revenue Management Solutions, a Florida-based pricing adviser to restaurants.

To be sure, chains haven’t completely abandoned the value menu. McDonald’s launched its “$1 $2 $3 Dollar” menu during the fast-food discount wars of 2018 as part of its turnaround plan. Today, that menu is pared down to 8 items instead of 12.

Restaurant operators are optimistic.

“I’ve never seen consumers less price sensitive than they are today,” one fast-food franchisee told Reuters.