Prices at Walmart and Target are creeping higher
Prices at Walmart are creeping higher just days after the retailer, blaming tariffs, warned that its shoppers will likely be paying more for some products.
It’s also happening at Target.
Walmart’s CEO Doug McMillon said in May that the retailer was trying its “best to keep our prices as low as possible. But given the magnitude of the tariffs…. we aren’t able to absorb all the pressure given the reality of narrow retail margins. The higher tariffs will result in higher prices.”
Aldi drops prices on 400 grocery items as Walmart signals price hikes
Grocery chain Aldi, already popular with budget-conscious households for its low prices, said it’s making its products even more affordable for shoppers this summer.
The higher prices are already here, according to Consumer Edge, a data and insights firm that analyzes daily shopper purchase data derived from scanned physical receipts, point-of-sale systems and email receipts, among other sources, to track how billions of dollars are being spent annually on purchases of packaged consumer goods.
The most recent Consumer Edge Basketview data indicate prices for some packaged products, including pet food and bodycare) are notably higher at both Walmart WMT 0.00%↑ and Target TGT 0.00%↑, said Michael Gunther, head of insights at Consumer Edge.
—Read my full story on Investopedia