McDonald's Is Responding to Sky-High Fast Food Price With a $5 Value Meal — But There's a Catch The news comes as the chain looks to redirect back to customer "affordability."
By Emily Rella
McDonald's is launching a value meal that will cost $5 beginning June 25 — but it's only staying for a month, per CNBC.
After pushback from customers over sky-high fast food prices, McDonald's has been teasing new initiatives to win back its loyal fans, including testing bigger burgers and new recipes.
Now, the burger chain will see if adding a value meal will make eating at McDonald's easier on consumers' wallets.
Citing people familiar with the matter, CNBC reported on Friday that the $5 value meal will include a McChicken or a McDouble, a four-piece McNuggets, fries, and a drink.
The average cost for a single McDouble as of press time is around $3.65.
Related: McDonald's in Connecticut Goes Viral For Astronomical Prices
CNBC also reported Friday that Coca-Cola added marketing funds to the equation to "make the deal more appealing."
On April 30, after McDonald's reported its Q1 2024 earnings and a 2% quarterly jump in global comparable sales growth (the chain's 13th consecutive quarter of comparable sales growth), CEO Chris Kempczinski pledged to offer more value to consumers.
McDonald's CEO Chris Kempczinski (Nuccio DiNuzzo/Chicago Tribune/Tribune News Service via Getty Images)
"McDonald's has a long history of being the go-to destination for value and it's imperative that we continue to keep affordability at the forefront for our customers," Kempczinski said on a call with investors. "We literally wrote the playbook on value, and we are committed to upholding our leadership within the industry."
Related: McDonald's CEO Says That 'Affordability' Is On the Way as Company Struggles Through Sales Slump
"Eating at home has become more affordable," Kempczinski said during the call. "The battleground is certainly with that low-income consumer."
A recent study by FinanceBuzz found that McDonald's prices have almost doubled from 2014 to 2024 across all popular items, making it the chain with the highest price increase amongst its rivals.
But McDonald's USA reps refuted the report to Entrepreneur, noting holes in the methodology and that "pricing is set by individual franchisees and varies by restaurant."
"This is not an accurate representation of historical or current pricing at McDonald's restaurants, and the 2024 average prices listed are significantly inflated," per the statement. "Value is part of McDonald's DNA, and we're committed to offering customers great value through everyday affordable pricing plus special offers and deals on our App and through the MyMcDonald's Rewards program."
In February, during a Q4 2023 earnings call, Kempczinski hinted that the company would be paying "probably more attention" to "affordability" following a hit in global sales during the quarter due to higher menu prices.
