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McDonald's on Tuesday announced that it is expanding its value offerings in a bid to reach price-conscious diners.

Starting Monday, the fast-food giant is bringing back its Extra Value Meals, which were last promoted before the Covid-19 pandemic. Customers will save 15% on the combo meals compared with buying the entree, fries and a drink separately, the company said.

For more than a year, McDonald's and its rivals have been relying on discounts and deals to lure customers back to their restaurants. Traffic to fast-food chains has been shrinking, fueled by a pullback in spending by low-income consumers. Last summer, McDonald's rolled out its $5 value meal and extended the promotion past its initial run

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