McDonald's Cuts Combo Meal Prices After Acknowledging Menu Costs Too High

McDonald's will reduce prices on its combo meals next month after acknowledging that its menu has become too expensive for many customers.

The fast-food chain announced that its most popular combo meals will cost 15 percent less than purchasing those items separately. The company is also introducing new value offerings, including a $5 breakfast deal and an $8 combination featuring a Big Mac and McNuggets.

The price cuts target value-conscious customers who have been deterred by fast-food meals that often exceed $10. McDonald's faces increased competition from casual dining restaurants like Chili's and Applebee's, which have gained market share by offering meals at price points similar to fast-food chains.