McDonald's Japan hikes prices for 3rd time in 10 months on surging costs
06/01/2023 07:31
By Rocky Swift
TOKYO, Jan 6 (Reuters) - The Japanese operator of
McDonald's restaurants announced its third price hike in less
than a year on Friday in the latest sign of compounding
inflationary pressures on the nation's consumers.
McDonald's Holding Company Japan Ltd 2702.T said it would
raise prices on about 80% of its menu from Jan. 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 yen
($1.49) this month from 140 yen a year ago. The cost of the
signature Big Mac hamburger will go up to 450 yen from 410 yen
previously.
Japanese consumers will see price increases on more than
4,000 food items from next month, researcher Teikoku Databank
said on Thursday, following an even bigger wave of hikes last
October.
Separately, Japanese restaurant operators Hot Palette Co and
Royal Holdings Co 8179.T said on Friday they would also be
raising prices in January and March, respectively, mostly on
beef and steak items.
($1 = 133.9200 yen)
(Reporting by Rocky Swift; Editing by Michael Perry)
((rocky.swift@thomsonreuters.com;))