McDonald's raises Russian Big Mac price amid plummeting ruble

Oak Brook-based McDonald's Corp has increased prices in Russia after the ruble plummeted against the dollar.

The cost of a Big Mac was raised by 2.2 percent to 94 rubles ($1.77), McDonald's Russia said by e-mail. The average price increase was about 1.3 percent in ruble terms.

The ruble fell to a record low this week and has declined by almost a third against the dollar in four months, increasing pressure on international brands to put up their prices. KFC Russia raised prices by about 1 percent in mid-November, according to the company, while Apple Inc. last week added 25 percent to the cost of an iPhone in the country.

McDonald's said it's seeking to keep prices affordable, adding that the price increase also reflects factors including the economic climate, plus rising costs for logisitics, raw materials and electricity.

The fast-food chain came under scrutiny in Russia this year amid the country's geopolitical tensions with the U.S. over Ukraine. Its largest restaurant in the country, located on Moscow's Pushkin Square, re-opened last month after being shut for three months by the Russian consumer-safety watchdog.