The lousy economy IS forcing stores who might have upped prices against traffi’s and a lousy economy and now higher gas prices to turn around and lower prices to get sales back from reluctant shopper’s….
But?
Some price cuts are countered by some STILL prices on other items….
Competing for strained consumers, America’s grocery stores are cutting prices on some key products. That doesn’t mean overall grocery bills will be lower.
Walmart, the nation’s largest retailer, said Monday that it would lower the price of ground beef rolls, fresh corn, cherries, potato chips and Coca-Cola as part of a slew of summertime discounts.
It’s the latest grocery chain to do so, increasing competition in a relatively low-margin industry reliant on people buying shopping carts packed with items, including some at more profitable prices.
The grocery industry has struggled over the past 18 months as higher food bills, reductions in food-stamp programs and the rise in the use of weight-loss medications have led shoppers to buy less. On top of that, elevated gas prices due to the war with Iran are also hitting shoppers’ wallets.
A May CNN poll found that 61 percent of Americans had changed which groceries they bought in order to stay within their budget.
High grocery prices have been a political issue for several years, so much so that President Trump sought to take credit for Walmart’s announcement, posting on social media that the retailer “will be lowering prices, by a lot, at my administration’s request to celebrate our great country’s 250th birthday.”
Walmart did not mention Mr. Trump or his administration in its press release.
But while shoppers may get better deals on some items, their overall grocery bill is unlikely to fall. Prices across all food categories are expected to rise 3.2 percent in 2026, according to the Department of Agriculture’s Economic Research Service….
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