BENTONVILLE, ARK. — Food prices are finally falling. C. Douglas McMillon, president and chief executive officer at Walmart Inc., said he is expecting “a period of deflation in the months to come” in the United States, adding, “while that would put more unit pressure on us, we welcome it because it’s better for our customers.”
“In the US, pricing levels in many food categories continue to be a concern,” Mr. McMillon said during a Nov. 16 earnings call. “Overall, our product costs are up versus last year, and they remain up even more on a two-year stack, which is putting pressure on our customers. Meat prices are high, but we’re happy to see lower pricing in dairy, on eggs and with chicken and seafood. The pockets of disinflation we are seeing are helping, but we’d like to see more faster, especially in the dry grocery and consumables categories.”
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