Even Big Macs are not immune to rising consumer prices.
In April McDonald's said it would implement small price increases throughout 2011 as it worked to offset higher ingredient costs for everything from beef and cheese to wheat and coffee beans.
McDonald's had already raised menu prices by 1% in March, CFO Peter Bensen said.Menu prices also rose by 1% in Europe earlier this spring, and McDonald's has plans to raise prices in its China-based restaurants as well. The Golden Arches expects its food expenses to rise as much as 5% this year, both in the U.S. and Europe, and it will pass some -- but not all -- of those costs onto its customers to protect its margins. CEO Jim Skinner conceded that customers are "pinched everywhere. They should not suffer the same fate at McDonald's."
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