McDonald's will increase the price of its cheeseburger by 20 per cent in Britain, in the first price hike for the popular item in 14 years as it responds to soaring inflation.
The cheeseburger's price will now rise to 1.19 pounds from 99 pence. McDonald's will also increase prices by 10p-20p for other items that have been hit by rising costs, the burger chain's U.K. chief told customers on Tuesday.
The increase, which will take the cheeseburger above the psychologically important price point of 1 pound, comes as British consumer price inflation hovers around 40-year highs and is forecast to top 11 per cent in October. The Chicago-headquartered chain, which runs more than 36,000 restaurants in more than 100 countries, also raised U.S. prices by 6 per cent last year, in line with increases at other consumer-focused companies which are facing higher inflation amid strong post-pandemic demand and supply chain disruption.
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