A top McDonald’s executive is weighing in on claims that the company has jacked up its prices. Joe Erlinger, president of McDonald’s USA, said in an open letter Wednesday that the average price of McDonald’s menu items is up around 40% since 2019. The breakdown comes in response to claims on social media from House Republicans, among others, that the fast-food company upped prices by more than 100%.
In response to persistently steeper costs, some consumers are pulling back across the restaurant industry, a trend that has not spared the fast-food giant. McDonald’s recently reported same-store sales below expectations in its first-quarter earnings report. That offering will include a McChicken or McDouble, four-piece chicken nuggets, fries and a drink, CNBC previously reported. Analysts at BTIG characterized the promotion as being more about value perception than a profit driver.
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