Little Caesars' $5 Hot-N-Ready Pizza Is No More The famous menu item undergoes a permanent price hike.

If you're craving one of Little Caesars' Hot-N-Ready pizzas, you might have to shell out a few more cents. The hallmark pizza now costs $5.55, an 11% increase from its old price of $5.

While the price increase is a permanent change, the Detroit-based chain says that it's now offering 33% more pepperoni with the pizzas.

"Change is good when it comes to giving our customers more of what they love and we're changing our iconic Hot-N-Ready Classic, adding 33% more savory, meaty pepperoni still at the country's most affordable price," said Jeff Klein, Little Caesars' chief marketing officer, in a press release.

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Little Caesars' price hike isn't totally out of the blue in an era of supply and labor constraints. Last October, McDonald's said it expects menu prices to be about 6% higher this year compared to last. Chipotle also raised menu prices last year.

Still, the pizza chain's prices are drastically lower than those of similar items from rivals like Domino's Pizza and Pizza Hut, where comparable pizzas can go for more than twice as much.

"Little Caesars has built its brand on affordability, convenience and quality, which keeps customers coming back to us time and time again," Little Caesars' chief innovation officer Ed Gleich wrote in an email to the Detroit Free Press. "This brings us the stability and high customer counts necessary to keep our extreme value sustainable."

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