Costco 热狗的价格上涨了。
The price of a Costco hot dog has gone up

原始链接: https://sina.bio/posts/costco-hotdog.html

Costco 传奇般的 1.50 美元热狗套餐自 1984 年以来一直保持着标志性的价格,但一项新的分析表明,该公司正在采取“缩水式通胀”来维持这一神圣的数字。 作者 A. Sina Booeshaghi 通过将热狗本身作为摄影测量分析的统一测量工具,对比了 2023 年和 2026 年购买的热狗。结果显示,虽然价格保持不变,但面包的尺寸却显著缩小。通过将面包建模为几何棱柱,该研究估计面包体积减少了 45%,导致总供应量减少了 37%。 尽管牛肉成本不断上涨,但作者指出面包价格实际上有所下降,这表明这种减量是战略选择,而非市场驱动的必然结果。经通胀调整后,从实际价值来看,每份热狗的成本实际上增加了约 77 美分。虽然 Costco 在技术上履行了保持 1.50 美元标价的承诺,但消费者却在为更少的食物支付更多的钱,这标志着“缩水式通胀”的一个典型例子。

最近的一场 Hacker News 讨论对“好市多 (Costco) 标志性的 1.50 美元热狗套餐缩水”的说法提出了质疑。尽管有人称其体积减少了 37%,但评论者反驳指出,在加拿大等法律强制要求提供营养数据的地区,相关数据并未显示热量有显著下降,这表明所谓“缩水”可能只是个人主观感受或局部现象。 针对观察到的差异,讨论者提出了几种解释:热狗面包由当地采购,不同地区或供应商之间存在差异,甚至有用户更喜欢新版面包的口感。另一些人指出,1.50 美元的定价是靠会员费补贴和抵御通货膨胀维持的亏本引流策略,并指出 1984 年的 1.50 美元相当于今天的 3 美元以上。最终,舆论普遍认为,虽然个人体验因地点和供应链波动而异,但该产品在核心营养价值方面基本保持稳定。
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原文

Costco sells an all-beef quarter-pound hot dog and bun, with free refills on Coke products, for $1.50. The price has not changed since 1984. This price point is so sacred that Costco co-founder Jim Sinegal reportedly told then-CEO Craig Jelinek that he would kill him if he ever raised it (Today).

As prices have gone up in the US across multiple spending categories, has Costco kept that promise? I bought two hot dogs at the same Costco three years apart. Both times the price was $1.50, exactly as promised. But the second hot dog bun looked smaller, enough so to raise the question: if the sticker price has not moved in three years, am I paying the same amount for less hot dog?

The sausage is the ruler

Conveniently, I had photographed both hot dogs (Figure 1) so I could, in principle, measure the size difference of the bun. But the two photos were taken from different distances, at different angles, and—importantly—without a ruler. But, luckily, I didn't need one because the sausage is the ruler.

I treated the sausage as unchanged at 8 inches long, giving me a known length I could use to register the two images. I first located the two ends of each sausage. I then used the camera focal length and the dog's assumed 1-inch diameter to estimate how far each sausage pointed toward the camera. A simple pinhole-camera fit put the 2023 dog at about 13 degrees out of the image plane and the 2026 dog nearly broadside. I then rotated and scaled the images to the same 8-inch reference line while correcting the measurements for perspective.*

The 2023 and 2026 Costco hot dogs before and after dog-based registration. The blue line marks the 8-inch sausage; cyan and magenta guides trace the two bun halves and mark their widths.
Figure 1: Costco hot dogs photographed in 2023 and 2026, before and after scaling to the same 8-inch reference line. The blue line marks the 8-inch tip-to-tip reference. Cyan and magenta outlines trace the two bun halves; the vertical bars mark their separate visible widths.

The buns are smaller

The Costco hot dog bun lost about 0.8 inches of length and 0.87 inches of combined width across its two halves. I modelled the bun as two rectangular prisms (angle-corrected length x mean visible width x a constant 2-inch depth) to estimate the total volume loss. (Note the sausage partly hides one bun half in the 2026 photo, so this estimate may be slightly overstated.)

Table 1: Angle-corrected bun-half dimensions estimated from the registered images. Measurements are rounded for display; areas, volumes, and prices were calculated from the unrounded values.

Year Top half (L × W) Bottom half (L × W) Bun area Est. volume
2023 6.2 × 1.13 in 6.6 × 1.17 in 14.8 in² 29.5 in³
2026 5.5 × 0.48 in 5.7 × 0.95 in 8.1 in² 16.1 in³
Change −45% −45%

Under this two-prism model, the bun volume dropped from 29.5 cubic inches to 16.1 cubic inches—a reduction of 45%. Put another way, the 2026 bun is about half the size of the 2023 bun. And since the dog itself was unchanged, I modeled it as an 8-inch cylinder with a 1-inch diameter: V = pi x (0.5 in)^2 x 8 in which is approximately 6.3 cubic inches to estimate the volume of the full serving (Table 2).

Table 2: Estimated hot dog volume and price per cubic inch.

Year Volume Price / in³ Price / in³ (2026 $)
2023 35.8 in³ 4.19¢ 4.56¢
2026 22.4 in³ 6.69¢ 6.69¢
Change −37% +60% +47%

By this estimate, the $1.50 hot dog contains about 37% less volume in 2026 than it did three years ago, in 2023. While the price is the same, the nominal cost per cubic inch has increased by about 60%.

So, to my dismay, the price of a Costco hot dog did go up.

Bamboozled by the bun

How did we get here? It's likely that Costco changed bun suppliers or asked its original supplier to make a smaller bun. While Costco does not publish its food-court bun contracts, it does offer product listings for those same buns. A now-unavailable Costco listing for Francisco International hot dog buns shows a 28-ounce package containing 12 rolls, or 2.33 ounces per bun. (I suspect this is the original bun, or one similar to it.)

The new alternatives currently listed by Costco weigh less. Francisco International deli hot dog buns come in a 26.6-ounce package containing 16 rolls, or 1.66 ounces per bun. (The Francisco International product image, incidentally, looks weirdly AI-generated.) Franz Classic hot dog buns come in a 42-ounce package containing 24 rolls, or 1.75 ounces per bun.

That is 25–29% less bun by weight. Even though weight and volume are not interchangeable, both measurements tell the same story as the photogrammetry analysis above: less bun.

The Bureau of Labor Statistics average-price data show the retail price of white pan bread falling from $1.97 per pound in August 2023 to $1.82 per pound in July 2026—a decrease of about 8%. Somehow, the bun shrank while bread got cheaper. I had been bamboozled by the bun.

Beaten by the beef

Changing beef prices may explain why Costco went after the bun. Bureau of Labor Statistics data show ground beef rising from $5.08 per pound in August 2023 to $6.89 per pound in July 2026, a 36% increase, or about 45 cents more for a quarter pound at retail prices. Costco may have taken it out of the bun. In other words, the buns were beaten by the beef.

Inflation does not save Craig Jelinek

Beef got more expensive and bread got cheaper. Those cost pressures may explain why Costco changed its buns. But they do not tell us whether the $1.50 meal is still the same value. For that, I compared the August 2023 Consumer Price Index (CPI-U) with the most recent July 2026 index.

The August 2023 CPI-U all-items index was 307.026; the July 2026 index was 333.918. That is an inflation factor of 1.0876, meaning $1.50 in 2023 is equivalent to $1.63 in 2026 dollars. The source data are available from the Bureau of Labor Statistics' August 2023 CPI release and July 2026 CPI files.

The fixed $1.50 price saved customers 13 cents relative to inflation. But the serving size shrank by 37% (while the purchasing power of $1.50 fell by only about 8%). In 2026 dollars, the 2023 hot dog cost 4.56 cents per cubic inch; the 2026 hot dog costs 6.69 cents per cubic inch. Inflation lowers the unit-price increase from 60% nominal to 47% real.

Therefore, at the 2026 rate of 6.69 cents per cubic inch, the old 35.8-cubic-inch serving would cost about $2.40 (77 cents more than its inflation-adjusted 2023 price of $1.63.) That is shrinkflation.

So, Mr. Sinegal, a Costco hot dog has effectively gone up by 77 cents in three years. I'm sure you're a man who keeps your word, but please don't kill Craig Jelinek. Just ask Ron Vachris to give us back the old bun. Thank you.

* This analysis was done with the help of OpenAI Codex.

Thank you to Sara Booeshaghi and Rachel Reynolds for reading drafts of this essay and giving feedback on it.

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