Even McDonald’s CEO knows the fast-food giant is too expensive. Now he’s cutting prices to woo back cash-strapped consumers

(Credit: Nuccio DiNuzzo—Chicago Tribune/Tribune News Service/Getty Images)

• McDonald’s has been criticized in recent years by price-conscious customers. CEO Chris Kempczinski recently admitted the menu has gotten too expensive. The fast-food chain reached an agreement with its U.S. franchises to price eight popular combo meals at 15% less than the total cost of buying the items separately, which will go into effect next month.

McDonald’s has been struggling to hold on to its low-cost image. Now fast food’s largest brand is trying to fix what many of its customers have been saying for months: Combo meals cost too much.