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Get ready to shell out more for that tasty burger or that yummy pizza at your favourite fast-food joint from now on. Major multinational fast-food chains are hiking their prices across all the markets, given 60-70% rise in the costs of the key ingredients such as flour, cheese and sauce over the past one year. While Dominos, a pizza major has hiked the prices of its products by upto 5%, the price of chicken McGrill, one of the best selling product of McDonald's has been increased by Rs.10. On the other hand other multinational joints like Pizza Hut and KFC will take a call on their price lists in the coming two weeks.
Domino's Pizza India CEO Ajay Kaul said: "As of now, sales have not been impacted by the price hikes but if this trend continues, it could begin to affect the consumer demands." A point of concern here is, almost all these major food joints are investing in opening their chains in smaller cities and higher prices could turn away the consumers in such markets. On the other hand KFC said it is still in negotiations with the suppliers to effect a minimal price hike. Unnat Varma, marketing director of KFC said:” Like any other brand in the market, KFC has got huge cost pressures. We are still in negotiations with all our suppliers to ensure that a minimum price hike increase takes place." Pizza Hut will also take a decision regarding the price hike in the next 15 days or so. Marketing director of Pizza Hut Anup Jain said: " We are assessing the impact on out total input costs and will take a decision on the pricing soon."
