McDonald's makes another move to keep menu prices lower

Transcript:

Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet at the present.

The S&P 500 is on a winning streak - up four days in a row. Market gains were modestl beforehand of an upcoming rate of interest decision from The Federal Reserve, nevertheless the rally was enough to signify Wall Street is at ease with the root of an expected quarter-point cut by the Fed.

The mood of the shopper will be in center of attention Friday with the University of Michigan’s preliminary August read on consumer sentiment.

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And speaking of consumer attitudes- McDonald’s customers have spoken, and it looks clone of the company heard them loud and clear. The burger chain announced it will probably possibly well be extending its $5 meal deal into December.

McDonald’s first introduced the $5 deal in June as a one-month promotion, but quickly extended it into a summer-long offering. The deal permits customers to come to a decision either a McChicken sandwich or McDouble cheeseburger, small fries, Four-piece Chicken McNuggets and a small soft drink.

The President of McDonald’s USA saying, “Together with our franchisees, we’re committed to keeping our prices as affordable as imaginable, which is why we’re doubling down with much more tips on tips to keep away from wasting.”

The fast-food giant had during the past been ready to lift menu prices without seeing an important dip in sales, but that changed as inflation remained persistent. The issue isn’t McDonald’s on my own. The total industry - with some exceptions - was forced to change its tune. Earlier this year, CEO Chris Kempczinksi said it was simply more affordable for customers to eat at home. This dynamic has persisted during the end of summer. Consistent with one of essentially the most up to date Consumer Price data, the annual upward thrust contained within the value of eating out is four times greater than eating at home.

That’ll do it to your Day to day Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.

Related: McDonald's menu adding a bigger, better take on the Big Mac