McDonald’s Corp. says it wants to raise prices to manage inflation, but it will take small steps up rather than a big leap. Speaking at the Evercore ISI Consumer & Retail Conference on Thursday, the fast-food giant said it’s keeping an eye on the consumer response to each of the price increases.
“I think we’re being very prudent that the landscape certainly has some headwinds in it and, I think, we’re being very conscious to ensure that we kind of stay on the side of the consumer as we make decisions through this to ensure those really important fundamentals of our business around value and affordability stay as strong as they can,” said Ian Borden, McDonald’s
international president, according to a FactSet transcript. “[W]e have the approach that we want to do more frequent increases, but at smaller levels so that we try and […] make sure that we don’t get into doing substantive increases.” Consumer companies of all kinds have put price increases in place to manage inflation that has reached a 40-year high and offset higher costs for things like transportation and labor. This inflationary environment has prompted companies to put a share focus on their pricing strategies. Don’t miss: Consumer prices surge again, CPI shows, and push U.S …