McDonald’s raises UK price of $1.19 cheeseburger – Daily Tribune
McDonald’s raises UK price of $1.19 cheeseburger – Daily Tribune

McDonald’s raises UK price of $1.19 cheeseburger – Daily Tribune

Stung by a general rise in inflation, McDonald’s announced on Wednesday that it was raising the price of its UK cheeseburger – set at 99 pence ($1.19) for 14 years.

The 20% rise to £1.19 sees the US fast food giant join a group of companies passing on higher wholesale prices to British consumers, fueling the worst cost of living crisis in generations.

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McDonald’s said it was increasing the price of menu items “most affected by inflation” by between 10p and 20p.

The chain is facing “incredibly challenging times,” UK and chief executive Alistair Macrow said in a statement.

“Since we opened in the UK in 1974, we have been committed to providing delicious food at affordable prices, and that commitment will not change,” he said.

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“But today’s pressures mean that, like many, we have to make some tough choices about our pricing.”

Last month, UK inflation hit a 40-year high of 9.4% and is forecast to rise to double digits, with energy prices set to rise further in the wake of Russia’s war in Ukraine.

On Tuesday, McDonald’s reported lower quarterly profits after its exit from Russia and warned of the impact of rising inflation on consumer sentiment particularly in Europe.

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