As we all know, items like groceries are becoming more expensive due to inflation; everything from food and clothing to gas is significantly more costly than a year ago.
According to the recent Consumer Price Index (CPI) report, prices increased 7.9% in February compared to the previous year. Since January 1982, this is the largest annualized increase in CPI inflation.
Like other retailers, Walmart also increased the price of several items. Recently, a Walmart employee was caught on camera changing the price tag under salad dressing from $2.24 to $7.88, an increase of more than 350 per cent.
TikTok user @devious love, also known as Shawn Connor, shared the employee's popular video. Since it was posted last week, it has had 2.8 million views, with viewers arguing the causes for such a drastic price increase.
In fact, some comments blamed the alleged price increase on inflation on social media, while others accused Walmart of "price gouging" and "corporate greed."
Gordon Haskett analyst Chuck Grom surveyed budget retailers across the country in late February and discovered that the average price increase at Walmart, Target, and dollar stores was 8.1 percent, even Walmart, the largest and lowest-cost grocer in the US, has raised prices dramatically.
A dozen eggs price $2.13 at Walmart in February, up from $1.21 the previous month, whereas a box of DiGiorno pizza cost $5.94 in February, up 94 cents from the previous month, and a gallon of milk cost $3.51, up from $2.82 the previous month.
Walmart executives believe that their customers are still in good financial health. They haven't noticed any significant changes in consumer behaviour patterns, such as switching to cheaper labels, but they pay close attention to increasing pricing. It also expected supply chain concerns to improve over the next few months.
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Disclaimer: This article is only for educational and informational purposes.