NEW YORK (WTVO) — As inflation drives the cost of everything higher, Little Caesars has announced it is raising the price of its Hot-N-Ready pizza for the first time in 25 years.
The pizza chain’s ready-made-for-takeout pizza has sold for $5 since 2001.
Now, the company says it is selling a “new and improved” version with 33% more pepperoni, for $5.55, according to CNN.
Little Caesars has been selling the lowest-priced pizza among its competitors Domino’s and Pizza Hut, which range from $13 to $16 for a similar-sized pie.
Pizza sales have spiked during the COVID-19 pandemic as Americans stay at home more.
According to the Bureau of Labor Statistics, restaurant prices have gone up 5.8% over the last year, with supply chain and labor issues contributing to the increase.