Local McDonald’s eateries are the latest in a series of businesses hit by rising inflation, with increases in prices of some of their menu items.
Times of Malta confirmed the increase in price after UK media reported that McDonald’s eateries there will be increasing the price of cheeseburgers by 20 per cent. This price hike in the UK – caused by soaring inflation – is the first one in 14 years.
Chief executive Alistair Macrow said McDonald’s UK and Ireland was committed to selling food at affordable prices, but cost pressures meant that this summer, its restaurants will add between 10p and 20p to a number of menu items.
When contacted, a spokesperson for Premier Capital plc – the licensee for the local McDonald’s – confirmed prices in Malta are also set to increase.
“Under all circumstances, our primary focus at McDonald’s is always to deliver the best possible value to our customers.
“Like every other operator, we constantly navigate market pressure and we are keeping an eye on the impact of changing trading and economic conditions on our business,” she said.
We are absorbing as much of the effects of inflation as we can
“Our customers’ loyalty takes priority in any decision-making, and we are absorbing as much of the effects of inflation as we can. However, price adjustments have become necessary on a number of menu items most impacted by rising inflation,” the spokesperson added.
No more details about which items will see an increase in price and by how much were made available.
In Malta, the price of staple foods has been increasing over recent months, with much of that increase being driven by the rising prices of oil and cereals.
According to data published by the Central Bank of Malta in June, food prices in Malta are inflating at a higher rate than in the euro area.
Prices ballooned in response to pressure on international food prices and compounded by transportation costs. According to CBM, the contribution of food prices to overall inflation rose from 0.2 percentage point in April 2021 to 1.6 percentage points a year later. As of last April, food inflation in Malta stood at 1.2 percentage points higher than that in the euro area.