McDonald's raises price of cheeseburger after 14 years

After 14 years McDonald's has raised the cost of the humble cheeseburger in the UK from 99p to £1.19.

The American fast-food giant sighted growing cost pressures in energy and food for the price hike. 

This comes as inflation hit a 40-year-high of 9.4% last month, with some predictions saying it could reach as high as 12% by the end of the year.

McDonald's UK and Ireland chief executive Alistair Macrow said in an open letter to customers, "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.”

"Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising inflation," said Macrow.

"Since we opened in the UK in 1974, we've committed to offering great tasting food at affordable prices, and that commitment will not change.

"But today's pressures mean, like many, we're having to make some tough choices about our prices," he said.

The McDonald's spokesperson added that there was no definitive list of how much individual menu items will go up by, as McDonald's only issues recommendations for price increases to their franchisees, who ultimately set their own prices outside of the classic saver menu.

However, the company did indicate that price rises would be seen across breakfast and main meals, large coffees, McFlurry’s and McNugget share boxes.