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Yesterday, McDonald's Japan announced that it would increase the prices of 80% of its products as of 16 January to cover soaring expenses, including material costs, and a weaker Japanese yen. It is the company's third price hike in less than a year.
McDonald's is not the only fast-food chain implementing price hikes in response to rising materials costs.
Paywall alert:
The fast food chain said the price hike is due to soaring material costs, rising labor, logistics and energy expenses, and rapid fluctuations in currency exchange, among other factors. Last year, McDonald's Japan raised prices of about 20% of items in March, and roughly 60% of products in September. In the latest price hike, a Hamburger will be priced at 170 yen (approx. $1.30) -- up from 150 yen, a Cheeseburger will retail for 200 yen (about $1.50) -- up from 180 yen -- and the price of a 15-piece box of Chicken McNuggets will be raised to 710 yen (roughly $5.40) from 590 yen.
McDonald's Japan to hike prices of 80% of items from Jan. 16 as costs soar - The Mainichi
TOKYO -- McDonald's Japan will raise the prices of some 80% of items on its menu from Jan. 16 to cover soaring expenses including material costs, the
mainichi.jp
McDonald's is not the only fast-food chain implementing price hikes in response to rising materials costs.
Pepper Lunch, a steak and hamburger restaurant chain, also said on Friday that it will raise prices of its popular teppanyaki dish with rice and thinly sliced beef by 40 yen for all sizes, the first price increase since June. The small size "Beef Pepper Rice," as a result, will sell for 720 yen instead of 680 yen.
Paywall alert:
McDonald's Japan to raise prices on 80% of its items
Series of hikes will leave classic burger 55% more expensive in less than a year
asia.nikkei.com