London
CNN
 — 

Diageo, one of the world’s biggest drinks makers, has reported its first drop in sales since the pandemic, as cash-strapped consumers cut back on spending.

The maker of Johnnie Walker whisky, Casamigos tequila and Guinness beer is the latest consumer business to report a hit to sales as inflation and high interest rates take a bite out of household budgets.

On Monday, McDonald’s (MCD) said global sales fell for the first time since 2020 as fewer customers visited the fast-food chain’s restaurants. That followed similar reports from Starbucks (SBX), Burger King and Wendy’s (WEN).

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