Walmart says prices are coming down, except in one key area

Walmart CEO Doug McMillon announced that prices for many groceries and items have fallen, but inflation remains stubborn in dry groceries and processed foods, such as soft drinks.

Despite pressuring suppliers to lower prices, some are still pushing for cost increases, which Walmart is resisting.

While Walmart’s overall inflation was flat, prices for dairy, eggs, sugar, and meat continued to rise, whereas items like pet food, fruits, and sporting goods saw price drops.

Walmart’s strong quarterly results, driven by increased unit sales rather than higher prices, boosted other retail stocks.

The company emphasizes that its profit growth is due to higher-margin businesses like advertising, not price hikes, CNBC has reported.

read more: https://www.cnbc.com/2024/08/15/walmart-says-prices-are-coming-down-except-in-one-key-area-.html

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