How much extra Domino’s budget range of pizzas will cost

Customers are in for a suyrprise when they order Domino’s cheapest pizzas, with inflation and the rising price of cheese forcing a change.

Domino’s is set to raise the price of its budget pizzas due to inflation and the rising cost of some ingredients.

The fast-food chain made the announcement on Thursday, with the price of cheese a huge component for which direction its margins could go in the future.

Some choices in the chain’s popular $5 range of value pizzas will now cost $8 but include a slew of extra ingredients as a sort of compensation.

For the extra $3, customers get double the amount of beef and onion, for example.

However, Domino’s $5 Value Range does still exist and includes a pepperoni and simply cheese pizza for the original price.

Chief executive Don Meij said not all products would be impacted by the price hikes, specifically its newly minted “supreme value” options.

Dominos Pizza chief executive Don Meij says the battle to keep prices low is ‘ongoing’. Picture: NCA NewsWire/Tertius Pickard

“Customer pricing is complex and there is not a ‘one-size-fits-all’ approach. We have had to slightly increase some of our prices and are likely to have to increase some more – just like all businesses right now,” Mr Meij said.

“We’ve given customers choice.”

Mr Meij said the battle to keep prices low was “ongoing” due to a variety of factors within the company’s supply chain.

Domino’s is raising the price of some pizzas. Picture: Domino's Pizza via NCA NewsWire

“Domino’s delivers a hot, fresh meal delivered fast at an affordable price,” he said.

“This is an ongoing process, and we appreciate the support from our existing and new customers during these extraordinary times.”

Accounts show Domino’s earnings fell 10.5 per cent in 2022 to $262.9m.

Across the globe, the chain opened 294 new stores, an average of more than five stores a week.

Twenty stores were opened in Australia and New Zealand over the past year along with the refranchising of 30 stores.