McDonald’s to increase prices in Hong Kong by about 2.6% in new year
- Fast-food giant is blaming high cost of Hong Kong labour, global consumer goods and food for rising operating expenses
- It will increase the price of almost all products by HK$1 although some chicken buckets will not be affected
The changes, set to take effect on January 2, will apply to all products sold at McDonald’s, with the exception of the six-piece sharing buckets of chicken, which will undergo a HK$3 increase.
“Facing the continued high prices of global consumer goods and international food, as well as the increasing cost of human resources for Hong Kong’s food and beverage industry, our overall operation costs have continued to soar,” the company said.
It said it would increase the price of almost all products by HK$1, or an average rise of about 2.6 per cent. For example, the popular Filet-O-Fish sandwich will cost HK$14 à la carte rather than HK$13.
However, the changes will not apply to its six-piece sharing bucket of its original and honey barbecue flavour crispy chicken thighs.
Why is Hong Kong’s inflation so low compared with other global cities?
“The company will continue to increase revenue and reduce expenses in the future, as well as strictly control costs. We will do our best to reduce the impact towards customers,” it said.
The global fast-food giant last raised prices in Hong Kong in January, blaming the increase on several local challenges, including high electricity costs, rises in transport expenses, manpower shortages and increasing costs of cooking oil and ingredients.
It also blamed the adjustment on the high cost of consumer goods in 2022.
Last January, prices were increased by HK$1 to HK2, amounting to an adjustment of about 3 per cent. The cost of the Filet-O-Fish rose from HK$12 to HK$13, and a Big Mac combo increased from HK$40 to HK$42.
McDonald’s is not alone in adjusting prices in the new year. The basic tariffs of the city’s two electricity providers will rise by up to 4.4 per cent in January, although both firms are cutting their fuel charges by as much as 44 per cent.
Under the adjustment, bills for residential customers of CLP Power will be 7.4 per cent cheaper than a year ago starting from January, HK Electric’s will be 16 per cent lower.
Hong Kong’s CLP Power and HK Electric to cut charges by up to 16%
Hongkongers have been hit with other price adjustments this year, including for bus fares and Star Ferry trips.
The former saw passengers on most routes operated by five franchised bus companies paying less than HK$1 extra in June, with the latter seeing an increase in April of up to 56 per cent for a ride across the harbour.
