McDonald's isn't as cheap as it once was, and it's losing low-income customers

• McDonald's said it's gaining middle- and higher-income customers, who are trading down to its menu.
• But the chain said it's also losing visits from lower-income diners pressured by high inflation.
• McDonald's expects to raise menu prices by about 10% this year — on top of a 10% increase last year.

McDonald's said Monday that customers continue to count on the chain for affordable meals, even as it raises menu prices. But lately, the demographic of those customers is shifting.