On Friday, January 6, the operator of McDonald’s restaurants in Japan announced its third price raise in less than a year. This is the latest indicator of compounding inflationary pressures on the customers of the nation’s McDonald’s restaurants.
McDonald’s Holding Company Japan announced on January 16 that it would raise prices on around 80 percent of its menu, citing currency fluctuations as well as rising expenses for materials, labor, transportation, and energy. The price increases are scheduled to take effect on February 16.
The price increases come on the heels of two other price increases that took place in March and September of the previous year. They come as Japan struggles with inflation and a decline in the value of the yen, which has led to a rise in the cost of imported ingredients.
One year ago, the price of a single cheeseburger was 140 yen; this month, it will cost 200 yen, which is equivalent to $1.49 USD. The well-known Big Mac hamburger will now cost 450 yen, an increase of 50 yen from its former price of 410 yen.
Next an even more significant wave of price increases in October of last year, research firm Teikoku Databank announced on Thursday that prices for more than 4,000 different food items will be going up beginning the following month.
In a separate development, on Friday, the operators of Japanese restaurants known as Hot Palette and Royal Holdings said that they would also be increasing prices in January and March, respectively, with the majority of the increases affecting meat and steak products.