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McDonald's Likely to Increase Prices of Some Menu Items

Photo Courtesy - Tim Boyle/Getty Images(CHICAGO) -- The next time you buy a burger at McDonald's it may cost you more.

The Illinois-based fast food chain announced Monday that it may increase the price of some menu items to offset the rising cost of ingredients, according to the Chicago Tribune.  The average price the company pays for beef, chicken, cheese and other of its most-used ingredients is projected to rise anywhere from 2 to 2.5 percent this year.

"As commodity and other cost pressures become more pronounced as we move throughout the year, we will likely increase prices to offset some, but not necessarily all, of these cost increases," McDonald's Chief Financial Officer Pete Bensen said.

McDonald's said that the price hikes would not affect their entire menu, only select items, and that it would be considerate of its consumers and affordability, especially since the country is still working its way out of a recession.

Also on Monday, the company reported its fourth-quarter profit, which rose two percent to $1.24 billion.

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