Food Deflation Anticipated: Walmart CEO Foresees Price Drops
XTalks
NOVEMBER 21, 2023
Walmart’s president and CEO, Douglas McMillon, foresees an upcoming phase of food deflation in the US. He expressed this during an earnings call last week, saying that he’s expecting “a period of deflation in the months to come,” adding, “While that would put more unit pressure on us, we welcome it because it’s better for our customers.” He mentioned that although beef prices remain high, there has been a noticeable decrease in the cost of eggs, dairy, chicken and seafood.
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