As if consumers haven’t faced enough stress! Now, fast food favourite McDonald’s has announced they are increasing the price of its cheeseburger for the first time in almost 15 years. It is not just the cheeseburgers facing the wrath of the cost-of-living crisis, either.
Due to the growing cost of ingredients putting pressures on restaurants, McDonald’s are adding up to 20p to a number of their menu items. The number one customer go-to, the classic cheeseburger, has increased in price, from 99p to £1.19, a rise of 20p. This is still below inflation, however. Had the cheeseburger risen in price in line with inflation, it would cost £1.42.
It is not just the increased cost of food which has caused these price rises. Many companies are combatting increased fuel costs and worker wages, causing a strain many will not have faced in years. As inflation continues to rise, the pressure faced by companies, both small and large, continues to grow rapidly.
Increased prices are being implemented on other menu items, too. Large coffees, chicken nugget share boxes and breakfast meals have also increased in price. The cost of upgrading from a medium meal to a large meal will also increase. As always, menu items may vary depending on location.
The chief executive of McDonald’s UK and Ireland, Alistair Macrow released a statement in an email to customers. He explained the choices McDonald’s had made regarding the cost of their food. He said; “We understand that any price increases are not good news, but we have delayed and minimised these changes for as long as we could.”
What is your favourite McDonald’s menu item? Have you cut back on fast food and eating at restaurants to save money? We’d love to hear your comments. Leave your thoughts in the comments below!
What a load of rubbish they earn billions each year. Don’t believe them they could just reduce their profit margins