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Google PlayMcDonald’s has put up the price of its cheeseburger for the first time in more than 14 years, due to the growing effect of inflation.
The fast-food chain confirmed Wednesday (July 27) that the iconic burger was one among a number of items facing price increases across its restaurant network and would be hiked up to a new price of £1.19. In an email to customers, chief executive of McDonald’s UK and Ireland, Alistair Macrow, said it was committed to selling food at affordable prices, however growing pressures meant it was having to “make some tough choices”.
“This summer, our restaurants will be adding between 10 and 20p to a number of menu items impacted most by inflation,” said Macrow. “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. We understand that any price increases are not good news, but we have delayed and minimised these changes for as long as we could.”
Each branch of McDonald’s is free to set its own prices under franchisee agreements. Some of the items expected to increase include breakfast meals, large coffees, McNugget share boxes and McFlurry desserts. The option to “go large”—which allows customers size up from a medium drink and fries on a meal deal—is also increasing to 60p.
The last time McDonald’s hiked the price of its cheeseburger in Britain was in the wake of the 2008 global financial crisis.
It is the latest hospitality business to issue warnings over rampant cost of living increases, a week after the ONS reported that inflation hit a 40-year-high of 9.4% last month.
Earlier this week Unilever—the company who owns brands including Marmite, Ben & Jerry’s and Magnum ice-cream—said it had increased its prices by 11.2% in recent months and expected further increases throughout the year. Amazon has also said the cost of its Prime subscription service will rise by £1 a month from September.
