It is true that inflation in the United States has declined in recent weeks. Therefore, large chain stores have also experienced a decline in prices. This is the case of the popular Walmart which offers new offers especially on certain food items.
According to official data from the Bureau of Labor Statistics (BLS), food was an essential part of keeping prices above the federal government’s objectives. However, as mentioned, Walmart is looking to become more competitive by reducing some costs on food products.
According to John Furner, president and CEO of Walmart US, more and more of the retail giant’s items are less expensive in 2024 than in 2023. Meanwhile, the most recent report of the consumer price index (CPI) for January 2024 showed a year-on-year increase of 3.1%.
Food increased in January
Last January, food costs increased by 0.4% compared to last December. By the way, this rate was higher than the general price index (0.3% in the month itself).
So that you can know more precisely on this topic, supermarket prices are now 25% higher than in January 2020. Meanwhile, inflation has increased by 19% during the same period.
After this analysis, it is necessary to appreciate Walmart managers, who are determined to lower the prices of their food items to remain the market leader. It is clear that the retail chain is not immune to the blow of inflation. However, it has managed to keep inflation in check so far this year and keep prices of some food items low.
To recap, the most significant price cut products are roast chicken, whose price has been reduced by $1.00 USD, and French bread. The latter is now worth barely $1.00 USD, its value before inflation.
(Tags to translate)cheap food