McDonald’s (MCD.NYSE) has increased prices across its food and drink offerings in China in a bid to offset rising costs, Bloomberg reported. McDonald’s China spokesperson Sophia Luan said product prices have increased by RMB0.5 to RMB1 (7 to 14 US cents) at some 1,200 restaurants across the country. China’s consumer price index jumped 4.4% in October, the fastest rise in two years, sparking widespread fears over the potential impact rising prices could have on economic growth. Premier Wen Jiabao said the government is drawing up measures aimed at reining in excessive price growth. According to the Economist’s Big Mac Index, China has the world’s cheapest Big Mac burger at US$2.18.
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