As inflation continues to bite, McDonald's has revealed that numerous products on its menu would see price increases, with the price of a cheeseburger due to increase for the first time in 14 years.
Breakfast items, main meals, and staples like coffee, McFlurrys, and McNuggets will all cost more, but prices will be established by individual franchises and will differ from restaurant to restaurant.
"Price increases will affect select McDonald's offerings including breakfast meals, main meals, large coffees, McFlurrys, the Chicken Mayo, the McNuggets share box, and some Go Large options," McDonald's said in a statement.
"However, some products will be unaffected, such as McDonald's wraps and salad range."
"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," Alistair Macrow, CEO of McDonald's UK & Ireland," said.
"Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising inflation."
"At times like this, we know that providing great value is important. Since we opened in Ireland in 1977, we have committed to offering great tasting food at affordable prices, and that commitment will not change," he added.
"But, today's pressures mean, like many, we are having to make some tough choices about our prices."
Inflation has had a significant impact on a number of menu items at McDonald's restaurants, thus their prices will be rising this summer. For the first time in more than 14 years, the price of a cheeseburger will increase starting today, going from €1.50 to €1.70.
Macrow went on to say that McDonald's understands that price increases are unfortunate news and that the fast food giant has delayed and minimized these changes as much as possible.
McDonald's was founded in the United States in 1955, and it established a presence in Ireland in 1972. Since then, the country has seen a burger boom, particularly in Dublin.
McDonald's has survived previous crises and has operations all over the world, but it is unclear whether it will continue to compete at the same level in the future due to current high costs.
The Chicago-based company, which operates over 36,000 restaurants in over 100 countries, raised U.S. prices by 6% last year, in line with increases at other consumer-focused companies dealing with higher inflation as a result of strong post-pandemic demand and supply chain disruption.
