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Walmart and Aldi announced they are once again lowering prices on holiday meals to help shoppers who are facing significant price pressure across the economy.
The companies plan to reduce the cost of Thanksgiving and Christmas meals starting Nov. 1 to ease the burden of sustained inflation, which rose more than expected last month.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| WMT | Walmart Co., Ltd. | 161.39 | +0.18 | +0.11% |
This isn’t the first time the companies have slashed prices on holiday meals. But Walmart, which has more than 4,600 stores in the U.S., announced it will be offering two Thanksgiving meal baskets that are even cheaper this year than last year.
Inflation rate rose more than expected in September as prices continued to rise
The Arkansas-based retailer says one option is for customers who prefer to cook from scratch, and the other option is for customers who want a more ready-to-bake option.
Turkey cooked in a roasting pan with a meat thermometer during preparation of a traditional American Thanksgiving holiday meal, San Ramon, California, November 23, 2019. (The Smith Collection/Gado/Getty Images/Getty Images)
Walmart did not disclose the price of the baskets, but said it will include staples like turkey for less than $1 a pound, as well as ham, stuffing and pumpkin pie.
Walmart said customers can take advantage of the low costs until December 26th.
The Federal Reserve will not raise interest rates, but mortgage interest rates may continue to remain at high levels.
Similarly, Aldi, which has more than 2,300 stores across the U.S., plans to lower prices on more than 70 “Holiday Classics,” according to a release. The company is offering discounts of up to 50% on in-store items including gravy, potatoes, green beans, cranberries, pumpkin pie, butter and flour.
These price reductions will continue throughout the holiday season.
“With inflation still looming, we are providing shoppers with extra peace of mind to make the holiday season a time of celebration, not stress,” Aldi President Dave Rinaldo said in a statement.
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The Ministry of Labor announced earlier this month that the consumer price index for September rose 0.4% from the previous month. Prices rose 3.7% year-on-year, in line with August’s data and slightly ahead of Refinitiv economists’ forecast of 3.6%.
According to the data, food prices rose 0.1% month-on-month and 2.4% compared to a year ago. This is a far cry from the double-digit increases seen last year and in early 2023.
FOX Business’ Megan Henney contributed to this report.
