McDonald’s hikes price of cheeseburger for first time in over 14 years
McDonald’s has announced it is raising the price of its signature cheeseburger for the first time in 14 years, as cost increases continue to bite consumers and businesses.
In a note to fast-food fans, the US titan said that “today’s pressures mean, like many, we’re having to make some tough choices about our prices.”
It said its restaurants in the UK would be “adding between 10p and 20p to a number of menu items impacted most by inflation” this summer.
From Wednesday, cheeseburger prices will rise from 99p to £1.19, marking the first increase in more than 14 years.
While the brand acknowledged price increases were not “good news” for diners, it said it had “delayed and minimised” such changes “for as long as we could.”
The news comes as consumer goods giants Unilever and Coca-Cola both admitted sharp price increases in their second quarters and suggested more could be on the way.
“We know things are tough right now. We’re living through incredibly challenging times and we’re all seeing the cost of everyday items, such as food and energy, increase in a way many of us have never experienced,” Alistair Macrow, CEO of McDonald’s UK and Ireland, explained.
