McDonald’s Hiking Prices on Some of its Menu Items

The famous American fast food chain McDonald’s hiking the prices of some of the food items from Wednesday as the cost of living simultaneously hit struggling households. The prices have been rising rapidly across the world as food, fuel, and energy costs soar. The giant fast food brand put up the price of a cheeseburger for the first time in more than 14 years during the previous summer. McDonald’s told about the commitment to offering food items at affordable prices, although the impact of inflation also affected many businesses as the cost of energy continuously affected the company and its franchisees.

McDonald’s declared the pricing on 5 items listed on the menu. McDonald’s said that it was a Saver Meals deals at 120 outlets in the South East of England. It is also finding a way to understand the additional way to offer value to the customers so that they can enjoy food within their budget. The inflation hit in the UK was about 10.1% in the previous year till January, fall from 10.5% in December, and food prices have risen. This year, the cost of items will be 10p more costly than last January, all over the board.

Russia’s Ukraine war impacted severely the global economy and pushed energy prices higher. Several firms have responded to rising costs by increasing the prices of goods. However, wages are not rising as fast as prices which are leading to household budgets under immense pressure. The global soft drinks market is also affected by the influence of inflation. The companies like Coca-Cola and Pepsico have been pushed through multiple price rises in the last year. Pepsi’s prices rose 14%, whereas Coca-Cola risen prices by 11% across the globe. On Tuesday, Coca-Cola also declared that it will pit up the price of other products like its fizzy drinks again this year.

McDonald’s rises the price of cheeseburgers, along with items such as large coffees, and breakfast meals from large to medium meals. Last year despite of price hike McDonald’s sales grew by 10.9% and more customers visit its outlets.