Customers Are So Mad: McDonald’s Just Raised Prices On So Many Menu Items
November 1, 2021 by Justine Schwartz
McDonald’s will be raising menu prices 6% this year, the Wall Street Journal reports. Despite the fact that Chicago-based chain posted third quarter earnings were up, they’re jacking up the price of menu items like French fries and Happy Meals. What’s the reason for the increase? The fast food restaurant is facing a 10% increase in wages and supply costs are up 4%. Aka, the company is passing along these costs right to the diner. We don’t know about you, but there’s just something about fast food being more expensive during a global pandemic that doesn’t sit right with us. Here’s everything you need to know.
McDonald’s Menu Price Increase 2021In its third-quarter report, McDonald’s notified investors that it had earned a profit of $2.15 billion, global sales were up 12.7% and their same-store sales surpassed pre-Covid-19 levels.
“Our third quarter results are a testament to our unparalleled scale and agility,” said McDonald’s President and Chief Executive Officer, Chris Kempczinski, on October 27th. “Our global comparable sales increased 10% over 2019, which was delivered across an omnichannel experience that is focused on meeting the needs of our customers.”