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Want to know what Walmart prices can tell you about the global economy? You might learn a lot more than you think from your shopping cart. NPR tracked the prices of a single Walmart store in Georgia since mid-2019, and the results might surprise you.
On average, prices have gone up 23% since 2019. And you can blame much of it on the pandemic and the chaos it brought to global supply chains, on top of other key factors like The Great Resignation raising wages and Russia’s invasion of Ukraine disrupting food and energy trade, NPR cites.
The phenomenon known as shrinkflation is where the size or quantity of a product decreases while the price remains the same or higher. It also includes the practice of changing formulas or using lower-quality ingredients. It’s like a cruel game of hide and seek with your wallet. So, we recommend checking the price per unit to really assess price changes.
Walmart says they try to keep prices as stable as possible and even use their big-name power to pressure suppliers for the best deals. But even they can’t escape the grip of inflation.
You can search for the price changes of dozens of other products in the main article.
For some items like electronics, prices have dipped. A Vizio 32-inch TV dropped 14%. On top of that, Walmart has started selling private brands that are usually more profitable, giving them more room to lure shoppers with lower prices.
Products mostly come from the same places as in 2019, except for that Vizio TV, which now comes from Vietnam instead of China. But economists say in the future we may see more products being sourced from outside China as new trade lines are being drawn.
So, next time you’re at Walmart, don’t just grab whatever is on your list, take a closer look at the price tags and see the impact of the global economy on your shopping cart. Oh, and by the way, we hear the shrimp is on sale.
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