McDonald’s sales go up amid inflation
Higher grocery prices may be driving more consumers to the golden arches.
CNN— Higher grocery prices may be driving more consumers to the golden arches.
McDonald’s says sales are up more than 6%, with low-income consumers looking to get a better bang for their buck.
Grocery prices have increased 13% in the 3rd quarter, but McDonald’s menu prices have been increasing at a slower rate.
The burger chain’s promotions such as adult happy meals and celebrity tie-ins also seem to help.
McDonald’s executives point out the company also performed well in the last economic downturn in 2008 and 2009.