NEW YORK — Wendy’s no longer thinks a hamburger has to be 99 cents to be a deal.

The fast-food company, known for its Frosty shakes and square burgers, has replaced its 99-cent value menu with a beefed up array of options called ‘‘Right Price Right Size,’’ with items ranging from 99 cents to $1.99. At a time when costs for meat, cheese, and other ingredients are rising, the revamped menu is intended to give budget-minded diners options, while giving Wendy’s flexibility on pricing.

The menu switch reflects the cost pressures facing fast-food chains. Burger King and McDonald’s have already moved past the $1 price point, offering tiered value menus that go up to around $2.

In all, there are now seven items that cost 99 cents on Wendy’s new value menu, down from nine.