Little Caesars' $5 Hot-N-Ready Pizza Is No MoreThe 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 apress release.

Related:Bitcoin Pizza Brand Is Here to Disrupt the Market — But it Doesn't Accept Bitcoin

Little Caesars' price hike isn't totally out of the blue in an era ofsupply and labor constraints. Last October, McDonald's said itexpects menu prices to be about 6% higherthis year compared to last. Chipotlealso 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 theDetroit Free Press. "This brings us the stability and high customer counts necessary to keep our extreme value sustainable."

Related:Pizza Hut Franchise Information