McDonald's & 3M Executives Warn: Rising Prices Are Impacting Consumers 💸

Executives from McDonald's, 3M, and other large companies warned that consumers feel the pinch of higher prices. McDonald's CEO said consumers are more discriminating with spending due to elevated day-to-day costs. 3M saw "continued softness" in discretionary consumer spending. Pay is up, but high prices are biting into extra income, and low-income consumers feel the most impact. Persistent inflation has negatively impacted American consumer confidence, which reached its lowest point since mid-2022 in April due to ongoing concerns about high prices.