Popeyes launches new $5 deal as fast food competition heats up

As fast food chains continue to drop prices on popular menu items in hopes of enticing hungry customers, Popeyes is entering the arena with a new $5 deal.

The popular fried chicken chain announced new value offers on Monday, which includes an order of three pieces of its signature bone-in chicken for just $5.

The fast food franchise, which first started in New Orleans in 1972, timed the news in tandem with National Chicken Month.

"We first saw the 'Value Wars' taking off early in the summer, as consumers were looking for ways to indulge in their favorite foods, without the high price tag," the company wrote in a blog post Monday. "This made our team think, how can we continue to serve our food, without compromising on the quality we are known for, but at a price our customers will be happy with?"

"This new promotion celebrates what Popeyes does best -- Fried Chicken," the company continued. "Each piece is expertly marinated in Popeyes signature blend of savory Louisiana herbs and seasonings, then battered in a crunchy southern coating and fried to golden brown perfection."

According to Popeyes, the $5 deal is available at participating locations nationwide in restaurant, through the Popeyes app, or online.

"As consumers look for more ways to enjoy their favorite meals without breaking the bank, Popeyes is excited to join this conversation centered around guest satisfaction," the company wrote.

The news comes on the heels of McDonald's extending its $5 value meal and similar offers from competitors like Wendy's, Burger King and even Chili's.