While McDonald’s may make the worst fast food burger on the market, the company still thinks it isn’t charging enough for them.
On Monday, the Golden Arches announced it plans to raise prices in the next calendar year to help pay for the projected increased costs of commodities like wheat and meat (who knew either of those were actually in a McDonald’s sandwich?).
If the chain, which didn’t give specific on price increases, goes through with its plan, this would be the first time in more than a year that McDonald’s jacked up its costs.
From Chicago Breaking News:
For the U.S., the higher prices will come after McDonald’s so far this year had refused to raise prices in order to take market share from rivals, such as Wendy’s/Arby’s Group Inc. and Burger King Holdings Inc. McDonald’s last raised prices at its U.S. stores in late 2009. Profits since then have been bolstered by the sales of higher-margin items such as the blended-ice smoothie and frappe drinks, allowing McDonald’s to withhold raising prices on other items.
We don’t know about you, but we’d probably pay a little more for McDonald’s if we could get items like the Cordon Bleu Burger or the McArabia stateside.
McDonald’s plans to raise prices in 2011 [ChicagoBreakingNews.com]