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LOS ANGELES -- In a widely anticipated move, McDonald's Corp. recently decided it will raise the price of its flagship Double Cheeseburger to $1.19 and introduce a new "McDouble" burger to its Dollar Menu on Dec. 1, Reuters reported.
The McDouble will have two beef patties and one slice of cheese—one less cheese slice than the Double Cheeseburger—and will retail for $1. The prices mentioned are McDonald's recommended prices, franchisees may price the items differently.
Raising the price on the Double Cheeseburger should help the company's franchisees protect their profits from rising costs for meat and other key ingredients. Restaurants have been carefully raising prices for fear of alienating cash strapped consumers, who in many cases can prepare healthy meals at home for less money, Reuters stated.
The popularity of McDonald's Dollar Menu has helped the company outperform most of its rivals amid a sharp economic downturn, according to the report.