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 23, 2026 · Vol. I · burgerprice.com

National Burger Index Sees Volatility; Austin Rallies on Strong Demand

🏆

BOARD SHAKEUP

vs the prior available print · week of Mar 16

▲ Biggest climber: Austin, up 8 spots to #2 (from #10). ▼ Biggest slide: Boston, down 5 spots to #7 (from #2). 5 of 10 cities held their spot.

📊

MARKET OVERVIEW

The National Burger Price Index (BPI) experienced significant volatility this week, closing at $15.48, a marginal gain of 0.8% from the previous week's close. The market showed a bifurcated trend, with several key urban centers demonstrating strong upward momentum, while others saw considerable pullbacks. Austin, TX, emerged as a standout performer, rallying a remarkable 37.7%, driven by robust consumer demand and potentially a favorable supply-side environment. Conversely, major coastal hubs like New York and Boston experienced significant corrections, suggesting a potential sector rotation away from premium burger equities in those regions.

📈

THE TAPE

▲ 37.7%Austin
Austin's burger index posted an explosive gain, shattering previous resistance levels and indicating strong bullish sentiment in the region.
BASKET MIXsame-store -3.7% (7/13 spots priced both weeks)
▲ 11.3%Los Angeles
LA's burger market continued its upward trajectory, building on recent gains and showing resilience in its premium segment.
REAL MOVEsame-store +7.5% (12/13 spots priced both weeks)
▲ 7.2%Portland
Portland's BPI saw a healthy increase, approaching a new short-term high as consumer appetite for its offerings appears to be recovering.
REAL MOVEsame-store +5.6% (5/11 spots priced both weeks)
▼ 9.9%New York
The New York burger market experienced a sharp pullback, testing key support levels as traders re-evaluated high-priced menu items.
BASKET MIXsame-store -1.5% (7/10 spots priced both weeks)
▼ 11.0%Boston
Boston's BPI suffered a significant decline, breaking through several support floors and signaling potential headwinds for its burger sector.
BASKET MIXsame-store +3.0% (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: AUSTIN

Austin's burger market has demonstrated exceptional strength this week, with its BPI surging by an impressive 37.7% to settle at $16.74. This meteoric rise positions Austin as a key growth market, significantly outperforming the national average and even outstripping the gains seen in more established markets like Los Angeles. The city's burger landscape, characterized by a relatively lower high of $28.00 at Jeffrey's compared to other major metros, suggests a strong performance in the mid-to-upper-tier segment that is currently capturing significant investor and consumer interest. The low end, anchored by McDonald's at $5.59, remains competitive, providing a stable base for the overall index's upward movement.

🍔

BURGER OF THE WEEK

Black Label Burger

$38.00
Minetta Tavern · New York

The Black Label Burger at Minetta Tavern, while commanding a premium price point, continues to justify its valuation through exceptional execution and ingredient quality. Its performance this week, despite a general market correction in New York, suggests strong brand loyalty and a resilient customer base willing to pay for a superior product. This burger represents a 'blue-chip' asset in the high-end burger portfolio, delivering consistent value despite broader market fluctuations.

📏

THE SPREAD

National Low
$4.65
In-N-Out Burger
Los Angeles
National High
$38.00
Minetta Tavern
New York

The spread between the national cheapest and most expensive burger remains wide at $33.35, underscoring the significant bifurcation within the burger market. The accessibility of the In-N-Out Burger at $4.65 in Los Angeles highlights the enduring appeal of value-oriented fast-food equities. Conversely, the Minetta Tavern's Black Label Burger at $38.00 in New York demonstrates the sustained demand for ultra-premium, luxury burger assets, even amidst broader market headwinds in that region.

🎩

ANALYST'S CORNER: ON BUN STABILITY AND CONSUMER CONFIDENCE

This week's market action prompts a closer examination of the relationship between regional economic health and burger price indices. The dramatic rally in Austin, contrasting sharply with the declines in New York and Boston, suggests a potential divergence in consumer confidence and disposable income across different economic geographies. Austin's performance could be indicative of a growing 'flight to value' within its own burgeoning economy, or perhaps a signal of stronger underlying economic fundamentals driving demand for all burger segments. The corrections in established, high-cost-of-living markets like New York and Boston may point to price sensitivity resurfacing among consumers, particularly at the higher end of the spectrum.

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

SHARE THE PRINT

BPI Weekly — week of Mar 23, 2026: "National Burger Index Sees Volatility; Austin Rallies on Strong Demand" Austin climbed 8 to #2 and Boston slid 5 to #7. The tape doesn't care about your feelings. Read the print: https://burgerprice.com/newsletter/2026-03-23

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