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.
read articles
Baking success across borders
/2024-02-02
Emerging from a quaint Lviv Croissants to 170+ location. What's the secret to their widespread success?
La Donuteria renowned for crafting, handmade donuts. Is this sweet business lucrative?
Poe Poe excels with premium, fresh ingredients and unwavering dedication to affordable fast food excellence. How do they do it?
Franchising.eu talked to Rafał Kościuk, the co-founder of “Fit Cake” about the franchise’s expansion across Europe.
The Georgian bakery chain Puri shows that tradition and modernity can complement each other and provide a successful business mix.
most read
International franchising
/2021-04-28
The idea of tapping into new global markets is financially appealing to any ambitious business owner.
The Fornetti Group is working to become a leader in the franchise market of frozen bakery products not only in Hungary but also in Europe.
The fast-food restaurant chains $1 billion international expansion plan
Exploring several key risks associated with franchising, such as financial liabilities, operational challenges, and brand reputation concerns.
Thinking of franchising in the European Union? Find out exactly who regulates franchising in the world’s biggest single market.