McDonald's Japan to hike prices of 80% of items from Jan. 16 as costs soar

TOKYO -- McDonald's Japan will raise the prices of some 80% of items on its menu from Jan. 16 to cover soaring expenses including material costs, the company announced on Jan. 6.

The fast food chain said the price hike is due to soaring material costs, rising labor, logistics and energy expenses, and rapid fluctuations in currency exchange, among other factors.

Last year, McDonald's Japan raised prices of about 20% of items in March, and roughly 60% of products in September.

In the latest price hike, a Hamburger will be priced at 170 yen (approx. $1.30) -- up from 150 yen, a Cheeseburger will retail for 200 yen (about $1.50) -- up from 180 yen -- and the price of a 15-piece box of Chicken McNuggets will be raised to 710 yen (roughly $5.40) from 590 yen.

(Japanese original by Kohei Misawa, Business News Department)