In the UK, McDonald's announced they will raise the price of their cheeseburgers by 20%, from £0.99 to £1.19 with immediate effect.
The fast food chain blamed the price hikes, the first ones in 14 years, on rising inflation, the price of other items will also increase by 10-20p.
"We are living through incredibly challenging times. Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising inflation."
- Alistair Macrow, CEO of McDonald's UK and Ireland
Keeping pricing reasonable is still a priority for the company and that the increases were delayed for as long as possible, according to Macrow.
The increase coincides with consumer inflation in Britain reaching a 40-year high, and is expected to see inflation rates above 11% in October.
