McDonald's it's expanding it $5 meal deal promotion, launched last summer, to cater to budget-conscious customers. Billed first as a limited-time response to provide relief to consumers affected by inflation, the promotion has gained traction with consumers looking for value from fast food brands. of $5 meal deal includes a McDouble or McChicken, small fries, four pieces of Chicken McNuggets and a small drink.

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The move matches a broader trend in the industry, where major fast-food chains have been fighting for customers with affordable meal offerings since McDonald's launched its promotion in June. Competitors, including Burger King, Taco Bell AND Wendy'shave also introduced value-based promotions to maintain customer loyalty amid rising food costs, inflation concerns — and even customer protests.

In one open letter to customers last May, Joe Erlinger, president of McDonald's USA, addressed widespread reports — mostly spread through social media — that menu prices had risen more than 100% in the past five years. The letter also rebuked claims that the chain raised prices above standard inflation rates.

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“Inflationary pressures have affected all sectors of the economy, including ours,” writes Erlinger. “That's why prices for many of our menu items have increased less than the rate of inflation – and remain well within the range of other quick service restaurants.”

While these agreements will bring some form of relief to consumers with inflation, FinanceBuzza financial news and information website recently analyzed value meals at major fast food restaurants to determine how much consumers can save by buying value meals versus buying items individually, finding that McDonald's was between peaks in value.

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With inflation still a stubborn reality for many consumers, McDonald's aims to continue to attract price-sensitive customers by keeping its menu appealing and accessible. The $5 Deal promotional extension could further increase traffic to its locations and help boost sales during an economically uncertain time.

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Read more: CNBC