McDonald’s hikes cheeseburger price
McDonalds is the latest company to put its prices up in response to cost pressures. Alongside a cheeseburger, the price of breakfast meals, large coffees, McNugget share boxes and upgrades from medium to large meals are also going up.
The economic crisis and soaring inflation means McDonald’s is among a large number of companies facing higher costs for fuel, wages and ingredients.
Inflation jumped to 9.4% in June, hitting a 40-year high. It was reported today that shop price inflation has now hit 4.4%, the highest rate on record.
The 20p rise in the cheeseburger price is the first increase for the burger in 14 years.
McDonald’s UK & Ireland chief executive officer Alistair Macrow said in an email to customers: “Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising inflation.
“At times like this, we know that providing great value is important. Since we opened in the UK in 1974, we have committed to offering great tasting food at affordable prices, and that commitment will not change.
“But, today’s pressures mean, like many, we are having to make some tough choices about our prices. We understand that any price increases are not good news, but we have delayed and minimised these changes for as long as we could.”
McDonald’s prices can vary from restaurant to restaurant as some are operated by franchisees who have more freedom over pricing.
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