Cheeseburger falls victim to cost-of-living crisis

The British branch of the global fast-food chain McDonald's has raised the price of one of its cheapest staples, the cheeseburger, for the first time in more than 14 years.

Rising inflation has forced the company “to make some tough choices” over pricing, McDonald’s UK & Ireland CEO, Alistair Macrow, said in a statement to customers on Wednesday.

The cost of a cheeseburger in Britain went up 20% from 99 pence ($1.19) to £1.19 ($1.40).

The increase comes as inflation in the UK peaked at 9.4% in June, the highest level in 40 years, mostly driven up by soaring energy and fuel costs.

On Tuesday McDonald’s, which runs more than 36,000 restaurants in more than 100 countries, reported a nearly 10% jump in global sales for the three months to the end of June, compared to the same period last year.

For more stories on economy & finance visit RT's business section