Thursday, April 15, 2010

Study: Walmart Price Cuts Are Actually Price Hikes

If you've turned on a TV recently, you've probably seen one of the seemingly countless Walmart ads where the retail behemoth brags about its latest round of price cuts. But a new study says Walmart's actually been raising its prices on groceries in 2010.

According to a report by JPMorgan Securities, since February they have seen a 2.3% average price increase for the items in their 31-item basket of grocery goods at Walmart. This follows a 1.9% increase between January and February.

As expected, Walmart responded to the report with marketing speak instead of actual answers.

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