WALMART has cut prices for its eggs, which have skyrocketed last year due to inflation.
While egg prices are still higher than they were before 2022, they are falling.
Walmart CEO Doug McMillon explained during a conference call, “Balls were 200% inflated in January.
“They are now only 50% inflated.”
However, he added: “It’s still an issue.”
Adam Snyder, a YouTuber who makes videos about personal finance, said Walmart is coming to save millions of Americans with its cheaper egg prices, but there’s a catch.
“Walmart has been getting more eggs lately,” he revealed. “They got a lot more in stock.”
“As a result, they’re lowering their prices,” Adam explained in the video.
“In fact, there is a Walmart supercenter in Harrodsburg, Kentucky that has discounted their eggs from $6.03 for 18 to just $2.
“That’s a whopping $3.03 in savings, or $22 per egg,” he said.
Adam explained that “a lot of stores are actually lowering their egg prices and, in return, are seeing more customers coming in to buy other products.”
However, the YouTuber warned his viewers, claiming his local grocery store “tricked his customers”.
He said he went to the store about a week ago and the bread cost $2.49.
“When I walked in there a few days ago, it was $2.79,” he said.
“It doesn’t matter whether it’s bread, fries, milk, meat or other products.
“If a grocery store drops egg prices and then advertises it in public … customers will flock to that store to buy those eggs,” Adam said.
The YouTuber warned his viewers. “But at the same time, what are you still thinking [shoppers are] will you buy Do you think they’ll buy a loaf of bread? Possibly. Maybe some milk? Possibly. Maybe some meat?”
He added, “There could be a whole range of items that they could buy.”
“If you buy five to ten items every time you go to the grocery store, each item costs $0.30 more, so that’s an extra $3.
“And you went in there to buy eggs and that’s it really, the eggs will save you $4.03 but now you’re spending $3 more because you bought 10 items that cost $30 more ‘ he explained.
Adam said, “You know what? You really only save $1.”
“Stores lower the price of certain items to get you into the store, but they raise the price of other items,” he warned.
During the same earnings call, when CEO McMillion said Walmart’s egg prices were falling, he also warned that dry groceries and consumables would cause problems for shoppers.
“It’s dry foods and consumables that we believe will create the pressure that customers will feel throughout the year and impact us on the mix,” McMillon said.
“Dried groceries and consumables are persistent, in the mid-double digits, and they’re only going to be with us for a while,” he said.
https://www.the-sun.com/money/7554532/walmart-cuts-price-everyday-item-increased-by-inflation/ Walmart comes to the rescue of millions of Americans as it slashes the prices of everyday items hit by inflation