Austin BPI$10.51▼ -4.5%│Austin Low$5.15│Austin High$19.00│Boston BPI$15.20▼ -7.7%│Boston Low$5.99│Boston High$24.00│Chicago BPI$13.28▼ -1.5%│Chicago Low$5.89│Chicago High$27.00│Los Angeles BPI$16.22▲ +3.6%│Los Angeles Low$5.40│Los Angeles High$29.00│Nashville BPI$11.31▲ +0.6%│Nashville Low$5.49│Nashville High$19.00│New Orleans BPI$13.44▲ +7.1%│New Orleans Low$5.89│New Orleans High$21.00│New York BPI$21.32▲ +8.8%│New York Low$6.39│New York High$38.00│Portland BPI$13.30▲ +23.5%│Portland Low$5.89│Portland High$24.00│San Francisco BPI$16.77▲ +0.8%│San Francisco Low$5.95│San Francisco High$24.00│Seattle BPI$16.11▲ +9.7%│Seattle Low$5.70│Seattle High$26.00│Austin BPI$10.51▼ -4.5%│Austin Low$5.15│Austin High$19.00│Boston BPI$15.20▼ -7.7%│Boston Low$5.99│Boston High$24.00│Chicago BPI$13.28▼ -1.5%│Chicago Low$5.89│Chicago High$27.00│Los Angeles BPI$16.22▲ +3.6%│Los Angeles Low$5.40│Los Angeles High$29.00│Nashville BPI$11.31▲ +0.6%│Nashville Low$5.49│Nashville High$19.00│New Orleans BPI$13.44▲ +7.1%│New Orleans Low$5.89│New Orleans High$21.00│New York BPI$21.32▲ +8.8%│New York Low$6.39│New York High$38.00│Portland BPI$13.30▲ +23.5%│Portland Low$5.89│Portland High$24.00│San Francisco BPI$16.77▲ +0.8%│San Francisco Low$5.95│San Francisco High$24.00│Seattle BPI$16.11▲ +9.7%│Seattle Low$5.70│Seattle High$26.00│Austin BPI$10.51▼ -4.5%│Austin Low$5.15│Austin High$19.00│Boston BPI$15.20▼ -7.7%│Boston Low$5.99│Boston High$24.00│Chicago BPI$13.28▼ -1.5%│Chicago Low$5.89│Chicago High$27.00│Los Angeles BPI$16.22▲ +3.6%│Los Angeles Low$5.40│Los Angeles High$29.00│Nashville BPI$11.31▲ +0.6%│Nashville Low$5.49│Nashville High$19.00│New Orleans BPI$13.44▲ +7.1%│New Orleans Low$5.89│New Orleans High$21.00│New York BPI$21.32▲ +8.8%│New York Low$6.39│New York High$38.00│Portland BPI$13.30▲ +23.5%│Portland Low$5.89│Portland High$24.00│San Francisco BPI$16.77▲ +0.8%│San Francisco Low$5.95│San Francisco High$24.00│Seattle BPI$16.11▲ +9.7%│Seattle Low$5.70│Seattle High$26.00│
🍔

BURGER PRICE INDEX

Est. 2026 · 10 US Cities · Week of Nov 9

BPI Terminal — Weekly Edition
Monday, March 2, 2026 · Vol. I · burgerprice.com

BPI: National Average Under Pressure as Seattle Rallies

🏆

BOARD SHAKEUP

vs the prior available print · week of Feb 23

▲ Biggest climber: Seattle, up 6 spots to #2 (from #8). ▼ Biggest slide: San Francisco, down 3 spots to #7 (from #4). 2 of 10 cities held their spot.

📊

MARKET OVERVIEW

The National Average Burger Price Index (BPI) experienced downward pressure this week, closing at $15.22, a slight dip from prior levels. This movement suggests a cautious sentiment pervading the broader burger market. Regional performance diverged significantly, with pockets of strong growth contrasting with notable contractions. Seattle emerged as a standout performer, rallying an impressive 23.4%, indicating robust demand and potentially favorable cost inputs in the Pacific Northwest sector. Conversely, Nashville experienced a sharp correction, shedding 17.3%, signaling potential headwinds or overvaluation concerns in that market. Boston also posted solid gains, continuing its upward trend.

📈

THE TAPE

▲ 23.4%Seattle, WA
Seattle's significant upward move suggests strong investor confidence and potential alpha generation in the region's premium burger segment.
BASKET MIXsame-store +0.7% (6/9 spots priced both weeks)
▼ 17.3%Nashville, TN
Nashville's sharp decline points to a potential oversupply or a bearish divergence from national trends, warranting close monitoring.
BASKET MIXsame-store -1.3% (7/13 spots priced both weeks)
▲ 10.7%Boston, MA
Boston continues to show resilience, suggesting sustained demand and positive market sentiment for its diverse burger offerings.
BASKET MIXsame-store +5.4% (8/10 spots priced both weeks)
▼ 8.1%Austin, TX
Austin's downward trajectory indicates a potential pullback after recent gains, aligning with broader market consolidation.
REAL MOVEsame-store -11.1% (9/13 spots priced both weeks)
▼ 6.3%New Orleans, LA
New Orleans is experiencing increased selling pressure, potentially testing key support levels as broader market sentiment shifts.
REAL MOVEsame-store -4.8% (8/10 spots priced both weeks)

🧾 Same-store footnote: 3 of 5 tape moves this week are mostly basket mix (a 5-pt+ gap between the headline and the restaurants priced both weeks). See the Same-Store Board →

🏙️

CITY SPOTLIGHT: SEATTLE, WA

Seattle's burger market has demonstrated exceptional strength this week, with the BPI surging by 23.4% to $17.62. This performance significantly outpaces the national average and indicates a robust expansion phase. The high-end segment, exemplified by The Butcher's Table at $28.00, appears to be driving much of this growth, suggesting strong consumer appetite for premium offerings and perhaps favorable economic conditions in the region.

While the low-end remains anchored by staples like McDonald's at $5.99, the significant upward movement in the overall index suggests that gains are being realized across various market tiers, or that the weighting of higher-priced burgers in the Seattle BPI has increased. Further analysis is required to determine if this rally is sustainable or if it represents a short-term speculative surge. Investors should monitor Seattle for potential sector rotation opportunities.

🍔

BURGER OF THE WEEK

The Butcher's Burger

$28.00
The Butcher's Table · Seattle, WA

A robust offering from Seattle's burgeoning steakhouse scene, this burger commands a premium price point reflecting its high-quality ingredients and execution. It represents a significant investment but delivers substantial value for discerning palates seeking market-beating returns in the luxury burger segment.

📏

THE SPREAD

National Low
$4.75
In-N-Out Burger
Los Angeles, CA
National High
$38.00
Minetta Tavern
New York, NY

The spread between the national cheapest ($4.75) and most expensive ($38.00) burger remains substantial, highlighting significant bifurcation in the market. This wide dispersion underscores the varying consumer purchasing power and the divergent strategies employed by fast-food chains versus high-end establishments. The current gap suggests ample room for both value-oriented plays and luxury segment growth.

🎩

ANALYST'S CORNER: ON BUN STABILITY AND CONSUMER CONFIDENCE

This week's market action, particularly the divergence between Seattle's rally and Nashville's correction, prompts a deeper look into regional economic indicators and their impact on burger prices. The persistent strength in high-cost-of-living areas like Seattle, coupled with a pullback in markets like Nashville, suggests that inflationary pressures and consumer confidence are not uniformly distributed across the nation's burger landscape.

We are observing a potential sector rotation, with capital flowing towards established, premium markets and away from those showing signs of overextension. The stability of the low-end BPI, anchored by major fast-food chains, continues to provide a baseline of consumer demand, but the volatility in the mid-to-high tiers indicates a more discerning investor and consumer base. The outlook remains cautious, with national average prices sensitive to performance in key metropolitan indices.

BPI WEEKLY · The Burger Price Index · Est. 2026 · View All Editions

SHARE THE PRINT

BPI Weekly — week of Mar 2, 2026: "BPI: National Average Under Pressure as Seattle Rallies" Seattle climbed 6 to #2 and San Francisco slid 3 to #7. The tape doesn't care about your feelings. Read the print: https://burgerprice.com/newsletter/2026-03-02

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