The chips are down: pizza, fried chicken and doughnut shares plunge on ASX as living costs bite budgets

Shares in Domino’s Pizza, KFC operator Collins Foods and multi-brand food franchise owner Retail Food Group have all suffered double-digit falls

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Once a symbol of cheap eating, fast food is transforming into a luxury many can no longer afford due to resurgent living costs.

This shift is reflected on the ASX, where major pizza, fried chicken and doughnut outlets are seeing significant price drops, raising the question: are consumers so downbeat that they are even giving up on fast food?