McDonald’s Japan hikes prices for third time in 10 months on surging costs
TOKYO, Jan 6 ― The Japanese operator of McDonald’s restaurants announced its third price hike in less than a year today in the latest sign of compounding inflationary pressures on the nation’s consumers.
McDonald’s Holding Company Japan Ltd said it would raise prices on about 80 per cent of its menu from January 16, citing currency fluctuations as well as surging costs for materials, labour, transportation, and energy.
The hikes follow previous increases in March and September last year, as Japan grapples with inflation and a slide in the yen that has made imported ingredients more expensive.
The price for a single cheeseburger will go up to ¥200 (RM6.55) this month from ¥140 a year ago. The cost of the signature Big Mac hamburger will go up to ¥450 from ¥410 previously.
Japanese consumers will see price increases on more than 4,000 food items from next month, researcher Teikoku Databank said yesterday, following an even bigger wave of hikes last October.
Separately, Japanese restaurant operators Hot Palette Co and Royal Holdings Co said today they would also be raising prices in January and March, respectively, mostly on beef and steak items. ― Reuters