McDonald’s hikes UK cheeseburger pricing after 14 years

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27th Jul, 2022. 10:15 pm
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The cheeseburger will now cost 1.19 pounds instead of 99 pence.
Consumer price inflation remains at 40-year highs and is expected to reach 11% in October.
MCD posted a better-than-expected profit on Tuesday, helped in part by higher prices.

McDonald’s (MCD.N) will raise the price of its cheeseburger by 20% in the United Kingdom, the first price increase for the popular item in 14 years, in response to rising inflation.

The cheeseburger will now cost 1.19 pounds instead of 99 pence. MCD’s will also raise pricing on other items affected by growing expenses by 10p-20p, the burger chain’s UK chief announced on Tuesday.

“We’re living through incredibly challenging times,” MCD’s UK & Ireland CEO Alistair Macrow 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 increase, which pushes the cheeseburger above the psychologically significant price point of one pound, comes as British consumer price inflation remains at 40-year highs and is expected to reach 11% in October.

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Macrow stated that the price rises had been postponed for as long as possible and that the company was still dedicated to keeping pricing low.

The Chicago-based company, which has over 36,000 restaurants in over 100 countries, raised U.S. pricing by 6% last year, in line with hikes at other consumer-focused corporations dealing with higher inflation as a result of strong post-pandemic demand and supply chain disruption.

The British Retail Consortium reported on Wednesday that stores and supermarkets raised prices by 4.4 percent in the year to July, the highest increase since records began in 2005.

McDonald’s Corp posted a better-than-expected profit on Tuesday, helped in part by higher prices, despite rising expenses. It also stated that it was exploring adding more discounted menu items as increased inflation, particularly in Europe, drives some consumers to purchase fewer large combination meals.

McDonald’s hikes UK cheeseburger pricing after 14 years

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