I think internationally, on the commodity side, again, I think we expect commodity inflation to be in that low single-digit range. Wage inflation probably in the low to mid-single-digit range. So obviously, we’ve still got kind of the current inflationary effects. And at the same time, we’ve got, obviously, carryover from much higher kind of inflation levels that we experienced as we work through 2023. So those are a bit of maybe kind of the — kind of pressures. Obviously, you’ve heard us talk about what we think from a sales perspective. So obviously, we’re going to get a lift as we continue to grow sales through 2024 landing kind of where I said. But I think we remain really confident that we can continue to drive leverage in margins as we look forward as some of these inflationary pressures begin to settle on a more consistent basis.
And we’re able to continue to grow sales, which we’re obviously really, really confident in our ability to do that with the plans and strategies that we’ve got in place.
Mike Cieplak: We have time for one more question from Lauren Silberman with Deutsche Bank.
Lauren Silberman: Thank you. Just a follow-up. Given the modest pricing in 2024 in the U.S., do you expect positive traffic then? And then my actual question is on the digital side. Can you talk about any changes as it relates to your approach, specifically to value offers as you look ahead into 2024 in the U.S.? Have a lot of promotions on the app also driving higher ticket, frequency. So just — to what extent is digital marketing accretive to franchisees? And just any thoughts there. Thank you.
Chris Kempczinski: Sure. Well, as you know, we don’t give traffic guidance. So we won’t get into kind of a specific what do we expect to see in traffic. But I think it’s fair to say that the success in this industry is always about having balance and you need to have both traffic growth and you need to have price growth. That’s the long-term formula for success. So that’s kind of what we use as our North Star. I think we’re set up really well to have that kind of balance. As I look at our business around the world, our brand is in great shape. We are seeing some of our highest customer satisfaction scores around the world. We’re seeing our operations in almost every single country around the world get better as we execute our Performance and Customer Excellence program or PACE, as you know it.
I think globally, in Q4, we saw service times improve by 10 seconds. And we’ve got very good alignment with our franchisees. In most of our big markets, we’re seeing healthy franchising cash flows. In the U.S., franchising cash flows were up roughly $35,000 last year despite all the price headwinds. So I think we’re set up well as a business to have that balance right as part of our long-term focus.
Mike Cieplak: Okay. Thank you, Chris. Thanks, Ian. Thanks, everyone, for joining. Have a great day.
Operator: This concludes McDonald’s Corporation Investor Call. You may now disconnect, and have a great day.
