Despite the soaring cost of food prices, fast-food chain Burger King announced that it will be adding two petite-sized, lower-cost items priced at $1.39: the Cheesy Bacon BK Wrapper and the Spicy Chicken BK Wrapper.

Burger King is attempting this strategy in a frenzied fast-food climate, as the industry is struggling to balance rising costs of food with value-added items. Fast-food companies such as McDonald's have had a difficult time keeping value items under the traditional $1 mark. Earlier this year, Burger King pulled a test for a double cheeseburger on its value menu for $1, and Jack in the Box just announced a new rollout of pita snacks, or "snack-sized wrap-style sandwiches" for $1.99.

I'm not sure that these tactics will be enough to excel in the current economic environment, but perhaps these changes will allow all of the fast-food chains to gain back some market share. What do you think?