McDonald's gets profit boost from price rises and sales in Europe

Warning short-term inflationary pressures will persist this year

McDonald's beat Wall Street estimates for quarterly profit on higher prices, even as it warned short-term inflationary pressures would persist in 2023.

Investors are watching bellwethers like McDonald's for any sign consumers are cutting spending. McDonald's benefited from higher menu prices, increased restaurant traffic and sales in the UK, Germany and France rose despite fears of a recession in Europe.