McDonald's increased prices in Russia after the ruble plummeted against the dollar.
The cost of a Big Mac was raised by 2.2 per cent to 94 rubles ($1.77) from today, McDonald’s Russia has said. The average price increase was about 1.3 per cent in ruble terms.
The ruble fell to a record low this week and has declined by almost a third against the dollar in four months, increasing pressure on international brands to put up their prices.
KFC Russia raised prices by about one per cent in mid-November, according to the company, while Apple. last week added 25 per cent to the cost of an iPhone in the country.
McDonald’s said it’s seeking to keep prices affordable, adding that the price increase also reflects factors including the economic climate, plus rising costs for logistics, raw materials and electricity.
The fast-food chain came under scrutiny in Russia this year amid the country’s geopolitical tensions with the US over Ukraine. Its largest restaurant in the country, located on Moscow’s Pushkin Square (pictured), re-opened last month after being shut for three months by the Russian consumer-safety watchdog.
Bloomberg News, edited by ESM
