When Egypt’s McDonald’s released their updated menu prices at the beginning of July, citizens took to social media to express their indignation at the price hike – a 50 percent increase for certain products compared to the year prior. For context, the fast-food chain’s signature Big Mac large meal jumped from EGP 59 (USD 3.12) to EGP 88 (USD 4.65). And that is excluding value-added tax and potential delivery costs. Rewinding further back, to 2019, EGP 100 (USD 5.28) was worth three Big Macs. McDonald’s is not alone in the fast-food market’s price bump trend. Pizza Hut’s famed family box meal has gradually increased from EGP 125 (USD 6.60) in 2017 to EGP 267 (14.10) in 2022. Burger King’s Value Meal, an offer that targets budget buyers, rose from EGP 22 (USD 1.16) in 2017 to EGP 50 (USD 2.64) in 2022. “Personally speaking, I stopped going there after I saw the new prices. It’s simply not worth it when there are cheaper competitors that offer the same quality. It’s as if you’re paying for expensive food, but it’s not expensive food,” says Mostafa Khaled, a construction engineer. More worryingly,…
Burgernomics: What Egypt’s Rising Fast-Food Cost Says About Inflation
July 28, 2022
