A media report said that KFC is selling seven kinds of products and six major packages will implement a comprehensive price increase. Most of some of the individual products have gone up by 0.5 yuan.
Some people also listed the exact prices of the seven products before and after the price hike, including the crispy chicken drumstick burger, spicy chicken drumstick burger, spicy chicken wings, New Orleans barbecue wings, egg tarts, cones and fries, with the price of each product going up slightly by 0.5 yuan.
After the adjustments, the savings for each package dropped to $1.50. For the six-pack egg tart gift box, the price went up from $20 to $22.50.
It is reported that along with the price hike, the Golden Roasted Chicken Thigh Burger, Nut Cone and Ching Heng Tea may be discontinued, and replaced by the Fragrant Pomelo Honey Tea, which is already on sale and costs $5.
Snow Top Coffee and Bajiao Juice, which had been on sale, as well as the New Orleans Roasted Chicken Thigh Burger, which will be on sale starting Jan. 1 next year, are priced at $12 each. If the rumors are true, this will be KFC's second price hike since it entered the mainland China market following a Dec. 27, 2004, price increase.
And Yum said in its "reply" that "KFC's price hike is for some products, and the increase for a single product is 0.5 yuan; and the set meal has changed from a saving of 2 yuan to 1.5 yuan."
Yum also said the price hike was made in the context of "rising labor costs in the manpower market, large increases in some prices, and different increases in other costs such as rent and utilities".
Related industry insiders also said that at present, water, electricity, raw materials and labor and other operating costs continue to rise, McDonald's, KFC successive price adjustments are also expected.