KFC Taiwan announces price increase in new year, McDonald's likely to follow suit

台灣肯德基宣布新的一年價格調漲，麥當勞可能會跟進

Minimum wage and raw material price increases are sending shock waves across Taiwan's food service industry


TAIPEI (Taiwan News) - The fast-food chain Kentucky Fried Chicken (KFC) Taiwan announced price increases on fried chicken, egg tarts, and burgers beginning from Tuesday, Jan. 15., as the company sees rising costs of raw materials.

Minimum wage and raw material price increases are sending shock waves across the food service industry since the end of last year, including the Michelin star awarded Din Tai Fung, traditional Taiwanese food chains Formosa Chang, Pizza Napoli, Mercuries Beef Noodle Restaurant, and several others in the country.

Starting from Jan. 1st, Formosa Chang has raised prices by an average of 5 percent on 36 menu items.

McDonald's Taiwan is considering to follow suit, according to Economic Daily News. It is said to raise prices by between 4 percent and 6.66 percent on many items beginning from Jan. 24.

KFC Taiwan explained costs have grown tremendously over the past several years, but prices have remained unchanged since 2016. To reflect the rising costs, egg tart, fried chicken, and burger products will be subject to price increases between NT$2 and NT$10; the price for some popular meal sets, however, will be reduced by up to NT$26, or 17 percent, according to the statement.

The other two major fast-food chains Burger King and MOS Burger do not have plans to hike prices, media reports say.