Walmart CEO says food deflation may come soon ...Middle East

By Nathaniel Meyersohn, CNN New York (CNN) — Lower grocery prices may soon be coming for shoppers. Walmart CEO Doug McMillon said Thursday that the US food industry may be heading into a period of deflation after three years of punishing price hikes that have caused sticker shocker for shoppers at the grocery store. Food prices have increased 25% since the pandemic started. “We may see dry grocery and consumables start to deflate in the coming weeks and months,” McMillon said. Walmart could enter “a deflationary environment.” Walmart is the largest retailer in the United States, and groceries make up more than half of its sales. The pace of food inflation has slowed in recent months

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Last updated : 16 Nov 2023 clock 07:00 PM

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Walmart CEO says food deflation may come soon ...Middle East

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