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The original was posted on /r/worldnews by /u/IlMioNomeENessuno on 2023-11-18 23:23:05.
Walmart CEO says high inflation has ended and that shoppers may soon encounter the polar opposite in stores: deflation
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://fortune.com/2023/11/16/walmart-ceo-deflation-retail-prices-inflation/
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
“In the US, we may be managing through a period of deflation in the months to come,” Walmart Chief Executive Officer Doug McMillon told analysts on an earnings call Thursday.
Granted, prices of Walmart’s US groceries and general merchandise are higher than a year ago, and sharply up on a two-year basis.
If that happens, Walmart shoppers could start to see deflation — or a decrease in prices — in dry groceries and consumables in the coming months, he said.
Even if overall prices don’t fall on an annual basis, McMillon’s comments underscore the slowdown in US inflation after the Federal Reserve ramped up interest rates.
McMillon, who gets a close-up view of US shoppers on a daily basis, now has to convince Wall Street that Walmart can continue to drive sales and market-share growth as inflation wanes.
Potential deflation in basic goods would free up shoppers’ budgets to spend more on general merchandise, he argued — a win for Walmart since those products tend to be more profitable.
The original article contains 290 words, the summary contains 169 words. Saved 42%. I’m a bot and I’m open source!