Cost pressure | UK

McDonald's Uk raises prices

McDonald's UK is raising its cheeseburger price for the first time in 14 years.
IMAGO / Eibner
McDonald's UK is raising its cheeseburger price for the first time in 14 years.

For the first time in 14 years, McDonald's in the UK is being forced to raise the price of its cheeseburger. According to a statement from the company, the price is to be raised by 20 percent from 99 pence to 1.19 pounds in response to ongoing inflation.

"From today, we’ll be increasing the price of our cheeseburger for the first time in over 14 years, taking it from 99p to £1.19. Some prices remain unaffected, and some will continue to vary across our restaurants," McDonald’s chief executive Alistair Macrow, says. "We understand that any price increases are not good news, but we have delayed and minimised these changes for as long as we could. We will continue to listen to what you want from us and work tirelessly to find solutions to today’s cost challenges affecting our business."

We know things are tough right now. We’re living through incredibly challenging times and we’re all seeing the cost of everyday items, such as food and energy, increase in a way many of us have never experienced. Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising inflation."

Although we’re seeing increasing costs, we’re committed to developing and rewarding our people, supporting our suppliers and the 25,000 British and Irish farmers we work with, and continuing to help invest in community programmes up and down the country. At times like this, we know that providing great value is important."

Since we opened in the UK in 1974, we’ve committed to offering great tasting food at affordable prices, and that commitment will not change. But, today’s pressures mean, like many, we’re having to make some tough choices about our prices. This summer, our restaurants will be adding between 10p and 20p to a number of the menu items impacted most by inflation."

Inflation at 11 percent

Experts believe that UK consumer price inflation is expected to reach 11 percent in October. The consequences of Brexit and the rising cost of living are generally affecting many restaurants in the UK. As a result, the number of insolvencies rose by almost two-thirds (64 percent) last year, as analyzed by the accounting firm UHY Hacker Young.