Walmart & Grocery Prices

The Lempert Report
November 29, 2023

Doug McMillan, CEO of Walmart, said last week that the US food industry may be heading into a period of deflation. After three years of price hikes, food prices have increased 25%, according to CNN, since the pandemic started. He was very particular in his statement. He's saying that dry grocery and consumables will start to deflate in the coming weeks and months, but certain staples such as bacon, seafood and eggs have already dropped. I'm curious when I hear his statement because of what he doesn't talk about. While we might see deflation from where it's gone up 25%, that doesn't mean that they're going to be less expensive prices than it was before we had this food inflation and, frankly, we still have these consumer packaged goods companies fighting retailers, like Walmart, wanting to take increases. Some retailers say justified, some retailers say not so much.

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