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McDonald’s raises price of a cheeseburger in the UK for the first time in 14 years
McDonald’s hiked the price of its cheeseburger in the U.K. for the first time in 14 years as cost pressures bite.
The fast-food chain confirmed Wednesday that the iconic burger was one among a number of items facing price increases across its U.K. restaurant network.
The cost of a cheeseburger has risen 20% from 99 pence ($1.19) to £1.19.
In a statement to customers, McDonald’s U.K. and Ireland CEO, Alistair Macrow, said that rising inflationary pressures had forced the company to make some “tough choices” over pricing.
Macrow said: “Today’s pressures mean, like many, we are having to make some tough choices about our prices."
He said: “Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising inflation.”
The last time McDonald’s hiked the price of its cheeseburger in Britain was in the wake of the 2008 global financial crisis.
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Other items on McDonald’s U.K. food menu have increased in price by between 10p and 20p, including its McNugget share boxes, breakfast meals, and upgrades from medium to large meals.
McDonald’s said that some items will remain unaffected by price hikes. Meanwhile, prices will continue to vary across franchisee-owned restaurants, which can set prices based on recommendations from the company.
levantnews-cnbc
