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As customers purchase “all the trimmings” this Thanksgiving, there’s one ingredient they’ll be looking to cut out: inflation. Walmart and Aldi both announced this week that they will be offering lower and even “pre-inflation” prices on their Thanksgiving offerings.
Aldi is promising an “inflation-busting holiday meal” for 10 people at less than $47. The discount grocery chain cited research that prices across the industry are up 50% from 2019, and committed to coming in below that pre-inflation benchmark.
“With 25% of US households now shopping Aldi, we know grocery prices are still top of mind for customers,” CEO Jason Hart said in a statement. “We worked hard this Thanksgiving to deliver the best value and quality products so everyone can enjoy a traditional meal with family and friends without having to scale back.”
Hold the inflation, please: Walmart, meanwhile, promoted an “inflation-free” holiday meal from now through December 24. The retail giant touted that its Thanksgiving meal serves eight people at $7 per person, and features 29 items, including a whole frozen turkey, Hawaiian rolls, gravy mix, and multiple canned vegetables.
“At Walmart, we are committed to offering customers even deeper savings on top of our every day low prices for all their mealtime needs,” said John Laney, executive vice president of food at Walmart US, said in a statement.
- The latest consumer price index showed that while inflation in September slowed to 0.2% month over month, prices for food at home were double that rate, contributing, along with shelter costs, to three-quarters of the increase.
But grocery stores aren’t the only retailers promising a rollback in inflation prices. JCPenney said its prices will remain at the same level as a year ago, per a report from Women’s Wear Daily. The department store also announced that its “Gotta Have it” pricing “ensures customers receive exceptional value every day,” in addition to early Black Friday deals from November 8 to 10 and then from November 22 to December 1.
These promotions come as retail sales continue to grow across the economy. National Retail Federation Chief Economist Jack Kleinhenz said higher employment, lower interest rates, and slower inflation all combined to boost sales in September.