Due to fluctuating exchange rates and rising input costs, Japan’s McDonald’s fast food restaurants will increase prices on about 60% of their menu items, the company announced on Monday.
It is the company’s second round of price increases this year as a result of rising inflationary pressures in Japan and the yen’s decline to a 24-year low, which raises the cost of imported ingredients. This year’s two rounds of increases mark the first since 2019. View More
According to a statement from McDonald’s Holding Company Japan Ltd, the price of the iconic Big Mac hamburger will increase this Friday to 410 yen ($2.85) from 390 yen, reflecting price increases of 10 to 30 yen on many items.
According to the global price index published by The Economist magazine, a Big Mac costs $5.15 in the United States. When the gauge was last updated in July, the price difference implied that Japan’s currency was undervalued by 45%.
For the second time in 2022, McDonald’s Japan is raising the cost of its cheeseburgers. Starting on Friday, they will cost 180 yen each, up from 140 at the start of the year.
According to a survey released this month by Tokyo Shoko Research, price increases of 60% have been implemented by major Japanese restaurants due to rising production costs and the weakening yen.
Separately, the parent company of Mister Donut, Duskin Co., announced that starting on November 25 most prices in its Japanese locations would increase by about 7.4 per cent.
(Adapted from JapanTimes.co.jp)
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