McDonald’s $5 value meal is sticking around until December

By Ramishah Maruf, CNN

New York (CNN) — The McDonald’s $5 meal deal is staying on menus until December, a sign that inflation-weary customers are devouring value meals recently offered by fast food chains.

The Chicago-based fast-food giant announced the $5 meal deal in June. But what the company offered as a one month only gimmick quickly turned into a summer-long promotion. In July, McDonald’s said that the vast majority of restaurants would keep it on the menu until August.

The meal features either a McChicken sandwich or McDouble cheeseburger, small fries, 4-piece Chicken McNuggets and a small soft drink.

Though McDonald’s had historically praised its ability to raise menu prices without denting sales, customers are holding on tighter to their money — diners everywhere are not going out to eat as often and spending less when they do. Earlier this year, McDonald’s reported weaker-than-expected sales at its US stores, and CEO Chris Kempczinski noted that “eating at home has become more affordable.”

Starbucks, Burger King and Wendy’s all have reported less foot traffic and responded to declining sales by enticing customers with similarly priced lower-cost meal deals.

“Together with our franchisees, we’re committed to keeping our prices as affordable as possible, which is why we’re doubling down with even more ways to save,” Joe Erlinger, President of McDonald’s USA said in a statement.

McDonald’s also announced a slew of fall deals — from $0.50 Double Cheeseburgers for National Cheeseburger Day on Sept. 18 to a $2 McCrispy sandwich for National Fried Chicken Sandwich Day on Nov. 9.

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CNN’s Jordan Valinsky contributed to this report.