Little Caesars pizza lovers are in for a rude awakening. The long-time $5 price of its Hot-N-Ready pizzas is going up for the first time in 25 years.
The nation's third-largest pizza restaurant has announced that its $5 Hot-N-Ready pizza will now cost $5.55. This is an increase of 11%.
The Hot-N-Ready, however, will be better than ever, according to the restaurant chain. The new version will have 33 percent extra pepperoni.
The increased price is permanent, according to Little Caesars.
The pizza first went on sale in 2001, and it set itself apart from competitors by being prepared for take-out without the need to purchase ahead of time.
Despite the price hike, Little Caesars claims that its big pepperoni pizzas are still the "country's most inexpensive price" when compared to its competitors. A comparable pie at its competitors, such as Domino's and Pizza Hut, costs between $13 and $16, depending on location.
Prices nationwide have risen in nearly all sectors, including at restaurants, where prices increased 5.8% in the year ending November 2021, according to the Bureau of Labor Statistics. The dramatic hikes show that restaurants and food producers are not immune to supply chain and labor challenges.