TAIPEI (CNA) — American fast food chain KFC (Kentucky Fried Chicken) is raising the prices of some of its products in Taiwan to reflect growing costs, the company announced on Jan. 14.
The price hike, scheduled to become effective on Tuesday, will see prices rise by 5 percent on average for food it serves at all of its chain stores in Taiwan, KFC said in a statement.
The company said that it has not raised prices since 2016 and decided to do so now after a comprehensive review to its operational costs and product prices, so that it can maintain the quality of the meals it serves.
According to KFC, the price will be raised by NT$2 for each egg tart, NT$6 for each piece of fried chicken, NT$6-NT$10 for each burger, and NT$10 for each XL Combo per set. And there will be a rise of at least NT$16 on the price for bucket meals depending on the combination.
However, the price for the Individual Combo will be reduced by up to NT$26 per set, KFC said.
Also, the company said that despite the costs in Taiwan’s food and beverage sector rising continuously over the past few years, it will keep unchanged the price for 40 of its products, including the Snack Box and Classic Combo, promising to continue to offer bargain options for clients in the future.
Meanwhile, another big fast food chain from the United States, McDonald’s, said it is reviewing its price structure based on the market environment, consumers’ preferences and operational costs.
By Wu Hsin-yun and Elizabeth Hsu