McDonald's CEO expects high inflation, flat traffic are not going away for restaurant industry

McDonald's is predicting that flat traffic and higher inflation will continue to weigh on the restaurant industry, CEO Chris Kempczinski said on Wednesday. "One of the things I've talked to our team about is we need to stop talking about that being a difficult environment, and just say that is the environment," Kempczinski said on CNBC's "Squawk on the Street." "Because I think, as we look out forward, we're not expecting things to change." For years, Kempczinski has been warning investors and analysts about the "challenging environment" faced by McDonald's and the broader industry. The burger chain reported U.S. same-store sales growth of just 0.8% in its most recent quarter as traffic to its domestic restaurants fell.