McDonald's Quietly Raises Prices In China

McDonald's quietly published new price quotes at its outlets starting Feb. 23, involving rises of between 5% and 10%, or 0.5 yuan to 1.5 yuan, for almost all products: burgers, soft drinks, French fries. This followed three separate price increases last year. The move brings McDonald’s closer to its competition--many Chinese restaurants have reportedly been hiking prices to make up for the soaring cost of staple foods, from pork to eggs to cooking oil.