‘Crazy’ McDonald’s prices slammed after ‘menu increases’ confirmed

The fast-food giant has just confirmed “strategic menu price increases” are behind McDonald’s huge profits, sparking anger among diners.

McDonald’s customers are lashing out after the fast-food giant recorded a huge revenue spike, which the burger chain credited to “strategic menu price increases”.

The global food company, which has 1032 restaurants in Australia and more than 40,000 worldwide, recently announced its US revenue was up 14 per cent in the latest quarter, bringing in a total of $US6.69 billion for the three-month period ending September 30.

During an earnings call with investors, McDonald’s CFO Ian Borden confirmed the company’s US prices had increased in the third quarter, The New York Post reports.

Though he didn’t specify by how much, Mr Borden said McDonald’s expects to increase the cost of its menu items by just over 10 per cent for the full year — the second consecutive annual 10 per cent price hike.

McDonald’s has confirmed higher than expected profits in the US, crediting ‘strategic menu price increases’. Picture: TikTok

In Australia, McDonald’s has also admitted increasing prices, after Aussies claimed “Macca’s is way more expensive” than it had ever been previously.

“Like all businesses we are operating in a higher-cost environment, which does impact the cost of running great restaurants in communities across Australia,” a spokesperson told news.com.au in June.

“We will always work hard to provide our customers with great value.”

However the latest price hike admission has left Macca’s fans around the world furious, with many taking to social media to express their anger.

One fast-food diner from Connecticut recently shared their shock at discovering a Big Mac meal now costs $US18 ($A27.65) at his local Macca’s.

“These McDonald’s prices are nuts right???” a post by Sam Learner on X, formerly known as Twitter, read.

A photo of the menu appeared alongside it, showing various burgers at the shock price.

‘These McDonald’s prices are nuts right?’. Picture: Sam Learner/X

Another burger fan revealed they’d paid $US16 ($A24.60) for a “happy meal”.

“So, I understand there’s a labour shortage, wage increases, and a number of other factors, but $16? $16 for a burger, a large fry, and a drink? It’s just crazy,” Christopher Olive, an influencer with more than 400,000 followers, shared in a TikTok video.

In the clip, he shows the receipt for his purchase, proving how much his order cost.

Both posts have garnered a huge reaction, with customers expressing their disappointment at the rising prices, suggesting the burger giant is no longer affordable for many.

“I remember when a big Mac meal was $2.99 I’m that old,” one remarked.

“If I’m spending $20, I’m going to a better place than McDonald’s,” another agreed.

As one declared: “It’s officially not convenient or affordable anymore.”

Christopher Olive paid $US16 ($A24.60) for a ‘happy meal’, labelling it ‘crazy’. Picture: TikTok/Christopher Olive

Locally there have been similar gripes from Australians, though it’s worth noting, it is hard to compare prices efficiently due to the fact each McDonald’s is a franchise, meaning individual owners all charge slightly differently for the same food items.

“It’s insane, Macca’s is more expensive than sit down restaurants for the same quantity of food,” one Aussie lamented on Reddit recently.

“A cheeseburger cost me $5 today, but I remember when they were only three bucks,” another commented.

McDonald’s Australia hasn’t released its annual sales figures for 2023 yet, but reported a record high of $2bn last year.

Originally published as ‘Crazy’ McDonald’s prices slammed after ‘menu increases’ confirmed