WASHINGTON — McDonald's will debut its $5 meal deal in the U.S. next week, marking a return to lower costs for the most prolific fast food franchise in the world as consumers grapple with higher prices and inflation.
McDonald's announced the deal would launch nationwide at participating restaurants on June 25.
The offer will let customers get a four-piece McNugget, small fries, a small drink and either a McDouble burger or a McChicken sandwich for $5 in most areas. Some stores with higher costs, like those in California or Hawaii, may charge more.
The meal deal will be a substantial discount from the list prices for the items that will be included in the limited-time deal. When prices were checked last month, one McDonald’s location in Michigan charged $9.66 for the four items sold individually.
"The 'wE hAvE fOoD aT hOmE' debate just took a turn. McDonald's $5 meal deal will launch on 6.25," a post from the company's senior marketing director reads.
The deal is the company's way of countering slowing sales and customers’ frustration with high prices.
Fast food rival Burger King recently launched its own $5 meal deal.
McDonald's said earlier this year that it was seeing fewer U.S. visits and lower spending from customers earning less than $45,000 per year. As grocery inflation has slowed, more people are choosing to eat at home, McDonald's President and CEO Chris Kempczinski said.
In the first quarter, the company said fast food traffic was flat or down in many key markets, including the U.S., Canada and the United Kingdom.
“The consumer is certainly being very discriminating in how they spend their dollar,” Kempczinski said during a conference call with investors. “It may be more pronounced with lower-income consumers, but its important to recognize that all income cohorts are seeking value.”
During the same call, Kempczinski said McDonald's needed a nationwide deal emphasizing its value if it wanted to keep up with rivals.
The Associated Press contributed to this report.