What do you think? Click here to comment. The minimum wage rose to $20/hour in April this year, affecting many restaurant chains. The burger with its two 45g beef patties, cheese, gherkins, lettuce and its famous "special sauce" now costs $6.90, averaged across the company's New Zealand restaurants.Ĭontributing to the chain's rising prices are increased prices for beef, coffee, dairy and packaging, plus costs to restaurants like utilities and other supplier costs, and increases in labour costs. McDonald's NZ provided its pricing to Newsroom and to The Economist, which is compiling its biannual, global Big Mac Index. They're up 30c in the past year, contributing to the big 4.4 percent rise in the cost of restaurant and ready-to-eat meals that Stats NZ reported this week. So when setting salaries, there's another little-known index that we should be using instead.ĪNALYSIS: When statisticians measure the rising cost of living, they include Big Macs. The all-important Consumer Price Index includes everything but the household cost that is foremost in most people's minds: mortgage payments. Economy Big Macs drive inflation figures more than mortgages
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