Fans of Costco's hot dog combo can rest assured that the price won't increase anytime soon, as CEO Craig Jelinek told CNBC on Monday.
As food costs skyrocket and inflation hits record highs, even for wholesalers, Costco will hold steady on its iconic dog-and-drink deal. The combo has cost $1.50 since it first arrived in food courts in 1985, even though the Bureau of Labor Statistics' inflation calculator says it's worth more than $4 today.
Jelinek once suggested raising the price, but in a now-legendary exchange, co-founder Jim Sinegal shut him down quickly, allegedly responding with, "If you raise (the price of) the effing hot dog, I will kill you." Instead of increasing prices, Costco switched from Hebrew National franks to making its own Kirkland Signature brand hot dogs at a plant in Los Angeles, Mental Floss reported.
