Inflation bites! McDonalds raises prices for the first time in 14 years

McDonalds raises prices : As inflation running at 40-year high continues to bite across the UK, the latest hit comes from fast food giant McDonald's. For the first time in 14 years, the price of a burger has been raised in UK by McDonald's and it is substantial - a full 20%.

The CEO of McDonald's UK division was quoted as stating "W we’ll be increasing the price of our cheeseburger for the first time in over 14 years, taking it from 99p to £1.19."

Companies are facing increased costs for things like fuel, wages and ingredients. McDonald's is not alone or first in the price hikes, Unilever raised prices across segments by 10% and even OTT giant Amazon prime raised it's subscription fees in the United Kingdom.

The cost of living crisis presents a major challenge for not just households but also for the House of Commons. Foreign secretary Liz Truss and former finance minister Rishi Sunak face a tough uphill task battling price rise impact on voters as they make thier bid for the PM's post.