New York (CNN) — McDonald’s is hoping a new value menu will win back customers that have been put off by its higher prices. On Friday, the fast-food chain unveiled the “McValue” menu, a new, budget-friendly category that will roll out at US restaurants on January 7, 2025. The popular $5 meal deal, unveiled earlier this year, will be the centerpiece of it. The menu will also feature a new “Buy One, Add One for $1” option that includes breakfast. McValue will include current fan-favorites like the $5 Meal Deal, exclusive in-app offers, and local food and drink deals – plus, a brand new Buy One, Add One for $1 offer on popular items for breakfast, lunch and dinner. McDonald’s is trying to reignite growth after a dismal few quarters. The value perception of the chain has dimmed among its cash-conscious customers because the average price of its menu items has soared around 40% over the past five years, in line with rising costs according to the company. “When it comes to value, we know there’s no one-size-fits-all. We’ve worked closely with our franchisees to create a new platform that will let our customers define value on their own terms,” Joe Erlinger, president of McDonald’s USA, said in a statement. The chain had been making some progress before an E. coli outbreak in October caused sales and traffic to nosedive. McDonald’s announced last week that it’s pumping $100 million into marketing and aid to franchises most heavily affected by the health scare. Also on the McValue menu are more in-app offers, plus local food and drink deals organized by its franchisees. The new menu category is McDonald’s largest value-minded effort since 2018, when it priced some items from $1 to $3. But the dollar menu proved relatively unpopular compared to the far more successful $5 value meal, which rolled out this summer. Customers weren’t necessarily shopping for inexpensive food as much as more bang for their buck. Ultimately, inflation has all but wiped out the items found at the lower end of that pricing tier. The McValue menu will replace what’s left of it. Meet the McValue menu McValue Breakfast Buy One, Add One for $1 menu items include: Sausage McMuffin Sausage Biscuit Sausage Burrito Hash Browns McValue Lunch/Dinner Buy One, Add One for $1 menu items include: 6-pc. Chicken McNuggets Double Cheeseburger McChicken Small Fries $5 Meal Deal & More Drum roll please….  you heard it here first: our $5 Meal Deal has officially been extended through next summer and will now be part of the McValue platform. The $5 Meal Deal features your choice of a McDouble or McChicken sandwich, small fries, 4-piece McNuggets and a small soft drink.