American fast food restaurant McDonald's will make another price-hike for its food in China following the one made in October last year. This is the first price mark-up that the company has made in 2008.
McDonald's says it plans to increase the price by RMB0.5-RMB1.5, but only some of the food will be affected. According to a representative from Shanghai McDonald's, the price increase is a direct result of the increasing costs. McDonald's began to make some adjustment on some of its food price from January 23, 2008.
So far, McDonald's competitor KFC has not announced any changes on their food price.