There were ripples heard around the country when it was revealed that McDonald’s cheeseburgers were going up in price for the first time in 14 years.
The item, which has long been 99p on the saver’s menu, will now cost £1.19.
The company has cited inflation – which is increasing at its fastest rates in 40 years – as the reason behind the move, and the cheeseburger is apparently not the only thing on the menu that will be increasing in price. Nor are McDonald’s the only franchise to be facing price hikes across their menus.
We round up the latest menu changes and companies who have told customers to expect changes in the near future…
What items will be more expensive at McDonald’s?
CEO Alistair Macrow shared with customers via a newsletter that many popular items will start to rise in price to match inflation.
He wrote in the newsletter: ‘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.’
While they said ‘it’s difficult to say with confidence’ at this stage, a list of items they ‘expect’ to see cost more in a significant number of branches includes:
- 20 chicken nugget share-boxes
- Breakfast meals
- Extra Value meals, including the ‘go large’ option
While no explicit figures have been shared yet, it’s thought all of the above, like the cheeseburger, will increase in price somewhere between 10p and 20p.
Have prices gone up at Costa?
According to The Sun, prices hiked up at the coffee retailer earlier this year.
Customers saw the cost of their favourite brew rise by as much as 12% at the time, with a flat white going up from £2.95 to £3.30 and a small cappuccino from £3.15 to £3.50.
Are prices going up at Greggs?
The exiting CEO of Greggs has already warned that price increases are ‘inescapable’ this year.
Roger Whiteside, when sharing Greggs’ performance for the first half of the year, shared that prices ‘need to move’ to keep up with inflation.
He said: ‘We moved prices at the beginning of the year and then, when the VAT relief was removed we had to charge VAT again, so that was price movement at that time, and we’re going to have to move prices again very soon. We’re just looking at, selectively, where those prices would move and can safely move them because they are still competitive relative to prices in the market.’
‘We won’t pass all the inflation on, but when we are forced to put prices up there’s always 5p or 10p typically, and we’ll only do it when the gap between us and our competitors isn’t going to be narrowed by that. It has to be carefully managed. But, it’s inescapable in the current climate. Prices need to move.’
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