McDonald’s to increase prices in Hong Kong by about 2.6% in new year

McDonald's, the global fast-food chain, has announced that it will be increasing the majority of its prices in Hong Kong by HK$1 in the coming week. The company attributes this decision to the escalating costs of local labour, global consumer goods, and food, which have led to a surge in operating expenses.

The price adjustments, which are scheduled to take effect on January 2, will be applicable to all items sold at McDonald's, with the exception of certain chicken buckets. The company stated, 'In the face of persistently high prices of global consumer goods and international food, coupled with the rising cost of human resources in Hong Kong's food and beverage industry, our overall operation costs have continued to skyrocket.

The company plans to increase the price of nearly all its products by HK$1, which equates to an average rise of approximately 2. 6 per cent. For instance, the popular Filet-O-Fish sandwich will now be priced at HK$14 à la carte, up from HK$13. However, the price changes will not affect the six-piece sharing bucket of its original and honey barbecue flavour crispy chicken thighs. The company has pledged to continue increasing revenue and reducing expenses in the future, while maintaining strict control over costs. It aims to minimise the impact on customers. McDonald's last implemented a price increase in Hong Kong in January, citing a range of local challenges, including high electricity costs, increases in transport expenses, manpower shortages, and rising costs of cooking oil and ingredients.