McDonald’s PH to increase prices next year
Make sure to make the most of your favorite McDonald’s meal now as they might get a little more expensive starting next year.
McDonald’s Philippines Managing Director Margot Torres said that McDonald’s Philippines is set to implement “strategic” price increases next year as the cost of goods in the country continues to rise.
To recall, the cost of consumers goods in September surged to 6.7 percent, which is faster than the 6.4 percent inflation rate recorded in August and 3.0 percent in the previous year.
The increase was mainly driven by the increase in the prices of food and non-alcoholic beverages.
“There will be a price increase next year,” Torres said, adding that even at the start of this year, the company also had to increase the prices of some its products because of the excise tax on sugar sweetened beverages (SSB) imposed under Tax Reform for Acceleration and Inclusion (TRAIN) law.
Right now, McDonald’s Philippines get 70 percent of its supply locally such as rice, chicken, and vegetables, prices of which have also been subject to increases lately.