McDonald's posts weak quarterly results as higher fast food prices hurt demand

McDonald's reported a surprise drop in sales and missed Wall Street estimates for quarterly profit on Monday, as the burger giant struggled to draw in cash-strapped customers opting to eat at home due to higher menu prices. Global sales fell 1% in the second quarter, its first decline in 13 quarters, compared with analysts' average estimate of a 0.53% rise, according to LSEG data. Persistent inflation has forced lower-income groups to shift to affordable food options at home, leading to fast food chains including McDonald's and Burger King to launch...