WEB DESK: The  McDonald’s (MCD.N)  reported a surprise drop in sales worldwide on Monday, its first decline in 13 quarters, as deal-seeking consumers shy away from higher priced menu items, including Big Macs.

Persistent inflation has forced lower-income consumers  to shift to more affordable food options at home. That has led fast food chains such as McDonald’s,  Burger King, Wendy’s (WEN.O)  and Taco Bell to lean on value meals to spark customer traffic.

which are down 15% this year, rose nearly 4% after company executives said the $5 meal deal launched late in June sold above expectations. They said the company was working with franchisees in a bid to extend it beyond August.

The company, which stuck to its 2024 forecast for operating margin of mid-to-high 40% range, said it would be more selective with price increases to protect profitability.

“Even though things  are soft now, they should be getting better in the back half of the year, with better value on the menu,” said Brian Mulberry, client portfolio manager at Zacks Investment Management.

Global comparable sales fell 1% in the second quarter, compared with expectations of a 0.5% increase. Overall revenue rose 1%.

CEO Chris Kempczinski said there is a lot more deal-thinking from consumers who have become “very discriminating” consumer sentiments in most of our major market remain low.