Mon, Jul 30, 2007 - Page 12 News List

KFC to raise prices on nation's favorites

By Jackie Lin  /  STAFF REPORTER

Facing a continuing increase in the price of raw materials, Kentucky Fried Chicken, the nation's No.2 fast-food chain, has announced it will raise prices for some of its popular products starting on Wednesday.

The markup -- the US fast-food chain's first large-scale price adjustment in Taiwan in recent years -- will represent a maximum 25 percent increase in retail prices.

"The different levels of price increases in raw materials and transportation in recent months have caused huge pressure on the company's costs," Yum Restaurants (Taiwan) Co (台灣百勝肯德基), which runs KFC outlets in Taiwan, said in a press statement on Saturday.

The price of Kentucky's colonel nuggets will be raised from NT$55 (US$1.67) to NT$69. Zinger burgers will cost NT$79 each, up from NT$69. The price of egg tarts will go up NT$2.

The price increase followed a similar move by McDonald's last year and Mos Burger (摩斯漢堡) recently.

McDonald raised prices for several set meals and French fries to reflect record increases in raw materials, including flour, potatoes and crude oil.

With approximately 350 outlets nationwide, the fast-food giant expects the new pricing policy will reduce costs by 1 percent, McDonald said at the time.

Mos did not have any plan to increase its price in the near term.

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