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Submission: On May 23 via api from BE — Scanned from DK
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Accessibility statementSkip to main content Democracy Dies in Darkness SubscribeSign in Advertisement Democracy Dies in Darkness Business GROCERS ARE FINALLY LOWERING PRICES AS CONSUMERS PULL BACK Retailers like Target, Walmart and Aldi have begun rolling back costs in their food aisles and on other household staples. By Jaclyn Peiser May 23, 2024 at 9:05 a.m. EDT Since the pandemic, the major chains have been operating at the highest profit margins on groceries in two decades, according to a study by the White House Council of Economic Advisers. (iStock/Getty Images) Listen 7 min Share Comment on this storyComment Add to your saved stories Save close Key takeaways Summarized by AI, reviewed by humans. * Retailers like Target, Walmart and Aldi have begun rolling back costs as consumer spending slows. * Grocery prices soared 27% since 2020, outpacing inflation. * The White House claimed credit for the retail price reductions. Did our AI help? Share your thoughts. Consumers have been grumbling about the soaring cost of groceries for nearly two years. Now, some of the biggest names in retail appear to be listening. In recent weeks, Target and Aldi have broadcast price cuts on thousands of items, while Walmart unveiled a new private label lineup of quality “chef-inspired food” mostly in the $5-and-under range. The shift comes as U.S. consumers have been signaling their discontent with more subdued spending — threatening retailers’ bottom lines. Share 717 Comments NewsletterWednesdays The Color of Money Advice on how to save, spend and talk about your money for the short and long term from Michelle Singletary. Sign up Recommended for you Recommended by Subscribe to comment and get the full experience. Choose your plan → Advertisement Advertisement TOP STORIES Politics Reporting and analysis from the Hill and the White House Veterans became eligible for billions. These firms saw a chance to profit. 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