Update (1500ET):
Consumers are receiving a much-needed break this holiday season as multiple retailers are rolling back the prices on Thanksgiving items. This move is in response to the highest inflation in forty years, crushing household finances as negative real wage growth for 18 months wipes out personal savings and balloons credit card balances.
We reported early Thursday that Walmart announced it would roll back prices on Thanksgiving food to 2021 levels. Then later in the day, the Washington Examiner reported that the budget supermarket chain Aldi "will discount Thanksgiving season grocery items up to 30% to match pre-inflation price points (2019 levels)."
Aldi called their discounting program the "Thanksgiving Price Rewind."
Walmart called theirs "This year's meal at last year's price*."
We suspect Aldi and Walmart aren't the only retailers rolling back food costs this holiday season, as this will only spark a price war among retailers.
* * *
Walmart Inc. announced that a basket of Thanksgiving items at retail stores would have prices rolled back to 2021 levels through the holiday season amid the worst inflation in forty years.
"Saving money is a top priority for our customers right now, so this year, we're removing inflation on an entire basket containing traditional Thanksgiving items," Walmart wrote in a press release.
The items to be rolled back to last year's prices include the following: "... turkey, ham, potatoes and stuffing ... convenience items are there too, like ready-to-heat mac and cheese or freshly made pumpkin pie."
"We're proud to offer customers this year's Thanksgiving meal at last year's price so families don't need to worry about how they'll set their holiday table," the largest retailer in the country said.
These deals will only last through Dec. 26, and the company offered a link to a landing page on their website titled "This year's meal at last year's price*."
Dozens of items were rolled back by the retailer. One of the most significant rollbacks was 50% off whole turkeys.
"Our approach this holiday helps make sure customers don't have to compromise on what matters: we're keeping prices low and our assortment strong to serve them all season long," Walmart concluded.
In the latest inflation report, Headline and Core CPI printed hotter than expected -- both remain at four-decade highs.
Food inflation has been one of the most shocking increases over the past year.
High inflation has crushed household finances as real wages are negative for the 18th consecutive month...
Meanwhile, the personal savings rate has tumbled to multi-decade lows at 3.1%, just shy of the record low of 3.0%...
And some experts are concerned about the pace of growth in consumer credit as debt loads for households soar as their wages can't cover added costs of food, shelter, and energy.
The stimulus checks are long gone. Savings are being depleted. And the largest retailer in the country is rolling back food prices for the holiday season because it knows consumers are immense financial pressures.
But, but, the economy is "strong as hell"?
Update (1500ET):
Consumers are receiving a much-needed break this holiday season as multiple retailers are rolling back the prices on Thanksgiving items. This move is in response to the highest inflation in forty years, crushing household finances as negative real wage growth for 18 months wipes out personal savings and balloons credit card balances.
We reported early Thursday that Walmart announced it would roll back prices on Thanksgiving food to 2021 levels. Then later in the day, the Washington Examiner reported that the budget supermarket chain Aldi “will discount Thanksgiving season grocery items up to 30% to match pre-inflation price points (2019 levels).”
Aldi called their discounting program the “Thanksgiving Price Rewind.”
Walmart called theirs “This year’s meal at last year’s price*.”
We suspect Aldi and Walmart aren’t the only retailers rolling back food costs this holiday season, as this will only spark a price war among retailers.
* * *
Walmart Inc. announced that a basket of Thanksgiving items at retail stores would have prices rolled back to 2021 levels through the holiday season amid the worst inflation in forty years.
“Saving money is a top priority for our customers right now, so this year, we’re removing inflation on an entire basket containing traditional Thanksgiving items,” Walmart wrote in a press release.
The items to be rolled back to last year’s prices include the following: “… turkey, ham, potatoes and stuffing … convenience items are there too, like ready-to-heat mac and cheese or freshly made pumpkin pie.”
“We’re proud to offer customers this year’s Thanksgiving meal at last year’s price so families don’t need to worry about how they’ll set their holiday table,” the largest retailer in the country said.
These deals will only last through Dec. 26, and the company offered a link to a landing page on their website titled “This year’s meal at last year’s price*.”
Dozens of items were rolled back by the retailer. One of the most significant rollbacks was 50% off whole turkeys.
“Our approach this holiday helps make sure customers don’t have to compromise on what matters: we’re keeping prices low and our assortment strong to serve them all season long,” Walmart concluded.
In the latest inflation report, Headline and Core CPI printed hotter than expected — both remain at four-decade highs.
Food inflation has been one of the most shocking increases over the past year.
High inflation has crushed household finances as real wages are negative for the 18th consecutive month…
Meanwhile, the personal savings rate has tumbled to multi-decade lows at 3.1%, just shy of the record low of 3.0%…
And some experts are concerned about the pace of growth in consumer credit as debt loads for households soar as their wages can’t cover added costs of food, shelter, and energy.
The stimulus checks are long gone. Savings are being depleted. And the largest retailer in the country is rolling back food prices for the holiday season because it knows consumers are immense financial pressures.
But, but, the economy is “strong as hell”?
