For the first time in a quarter-century, since the marketing plan was first launched in 1997, Little Caesar's is being forced to increase the price of their Hot-N-Ready pizza from $5 to $5.55.
Thanks a lot, Biden.
The 16 cents we saved at the 4th of July can't cover the 11% price increase of Little Caesar's signature dish.
The CEO of Little Caesar's, Dave Scrivano, told Forbes the decision had to be made because of labor shortages and price increases across the board.
However, according to the CEO, Little Caesar's customers should be happy because the price increase also comes with a pepperoni increase.
From Forbes:
"During a recent interview, CEO Dave Scrivano said the price increase is a way to balance rising labor and commodities costs. The cost of pepperoni, for example, has risen more than 50% throughout the pandemic. Little Caesars is trying to blunt the increase by adding more of the popular topping.
"There are all kinds of pressures on businesses these days, but we still want to deliver the best product at the best value to our customers. They have told us they want more pepperoni. While other companies are decreasing their portions and increasing their prices, we decided to make our pizza even better. It still remains the lowest price in the business, but we're adding more to it," Scrivano said."
So, while the prices at the "Pizza Pizza" franchise continue to increase, the restaurant is still the cheapest pizza on the market.
You can rest easy knowing that Little Caesar's still has the broke college student market cornered.
It's hot. It's ready. And now it'll cost you just a little bit more... at least, until inflation kicks up a few more notches!
Thanks, Biden.
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