Japanese restaurant operator McDonald’s has announced its third price hike in less than a year in the latest sign of rising inflationary pressures on the country’s consumers.
McDonald’s Holdings Company Japan said it would raise prices on about 80 percent of its menu starting Jan. 16, citing currency fluctuations as well as rising costs of materials, labor, transportation and energy
The hikes follow earlier rises in March and September last year, and come as Japan struggles with inflation and a falling yen that has made imported ingredients more expensive.
The price of a single cheeseburger will rise to ¥200 this month from ¥140 a year ago. The cost of the signature Big Mac burger will rise to 450 yen from 410 previously.
Japanese consumers will see price increases on more than 4,000 foods starting next month, researcher Teikoku Databank said, following an even bigger wave of hikes last October.
Separately, restaurant operators Hot Palette and Royal Holdings said they would also raise prices in January and March respectively, mainly on beef and steak products.
Oms Thomson Reuters 2023