Hamburger prices are set to rise, after recent increases in the prices of coffee, bread, snack foods, ice cream and instant noodles.
According to HanGook McDonald’s on Friday, 20 of its menu items will increase in price by between 100 won and 300 won, or around seven to 21 cents in U.S. currency, starting Thursday, with each one seeing an average price increase of two-point-three percent.
The fast-food restaurant chain, which previously increased prices of 16 food products by between 100 won and 400 won last May, cited the foreign exchange rate and rising cost of raw materials as factors behind the latest price hike.
There has been a series of price hikes in the food industry amid the ongoing political turmoil post-martial law, with an unnamed government official saying businesses seem to be rushing to upwardly adjust prices before President Yoon Suk Yeol’s impeachment ruling.
Data from Statistics Korea showed that prices of processed food products jumped two-point-nine percent on-year in February, posting the biggest gain in 13 months, while the cost of eating out surged three percent.