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Big Mac and fries: McDonald's in the UK adjusts prices for inflation
Photo: AP
The cheeseburger in McDonald's branches in the UK will be more expensive - by 20 percent.
This is the first price increase for the popular dish in 14 years: a response to rising inflation.
The price of the cheeseburger will increase from 99p to £1.19.
McDonald's will also raise prices by 10p to 20p on other products hit by rising costs, the British burger chain boss told customers on Tuesday.
"We live in incredibly difficult times," said Alistair Macrow, CEO of McDonald's UK & Ireland.
"Like you, our company, our franchisees who own and operate our restaurants, and our suppliers are feeling the effects of rising inflation."
Increase above psychological mark of one pound
The hike, which will take the cheeseburger above the psychologically important £1 price point, comes at a time when UK consumer price inflation is at a 40-year high and is expected to hit 11 per cent in October.
Macrov said the increases had been delayed for as long as possible.
The company continues to strive to keep prices affordable.
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The Chicago-headquartered chain, which operates more than 36,000 restaurants in more than 100 countries, also raised prices in the US by 6 percent last year.
That's in line with increases from other consumer-facing companies facing higher inflation due to strong post-pandemic demand and supply chain disruption.
The McDonald's Corp.
reported better-than-expected earnings on Tuesday, although costs have soared, in part due to higher prices.
McDonald's is also considering whether to offer more discounted menus as higher inflation, particularly in Europe, is forcing some consumers to buy fewer large combination meals.
ani/Reuters
