In a sign that the Golden Arches might not be as recession proof as Jim Skinner thinks, the company announced yesterday that the suggested price point for the double cheeseburger will increase to $1.19.
Although the December 1 price increase bumps the dollar menu staple from the value line up, the company has added the McDouble as its dollar menu replacement. The new menu item is identical to the famed double cheeseburger expect for the cheese—the original has two slices while the McDouble only has just one.
Industry insiders have been predicting the price hike for months, despite McDonald’s strong quarterly performance recently.
While franchisees are free to price the item however they want, rising beef and cheese prices have resulted in a diminishing profit margin for the double cheeseburger when priced at $1.