McDonald's Japan announces new price increase on its menu

McDonald's Japan announced the third price increase in less than a year, indicating intensifying inflationary pressures the nation's citizens are facing. 

McDonald's Holdings Company Japan has stated that the prices of about 80% of its menu items will increase on January 16 due to currency changes and rising costs for materials, labor, transportation and energy. This follows two further increases in March and September 2020, as Japan is currently struggling with inflation and a drop in the value of the yen that has made imported goods more expensive. For example, the price of a single cheeseburger will rise to 200 yen from 140 yen a year ago, and the cost of a Big Mac hamburger will rise to 450 yen from 410 yen earlier. 

According to Teikoku Databank, Japanese shoppers will experience increases on more than 4000 food items starting in early February, which comes after an even bigger wave of increases in October. In addition, restaurant operators Hot Palette and Royal Holdings have also stated that their prices will be increased in January and March respectively, mainly for beef products and steaks.