LOS ANGELES — McDonald's Corp said it would selectively increase menu prices this year to help offset an expected rise in its own grocery bill for the 10 commodities that account for around 75 percent of its food preparation costs.
Food prices are climbing around the globe and the world's biggest restaurant chain said its costs are expected to rise this year 2 percent to 2.5 percent in the United States and 3.5 percent to 4.5 percent in Europe.
Chief Financial Officer Pete Bensen said McDonald's would "raise prices where it makes sense" to offset some, but not all, of the cost increases.
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