Aldi cutting prices on hundreds of items to fight 'stubborn inflation' [FOX Business Network]
JP Morgan Chase & Co. (JPM)
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Source: FOX Business Network
The grocery chain, with over 2,000 locations nationwide, is passing along $100 million in savings by slashing prices on more than 250 items through Labor Day. The company said the announcement is building on its previous promise in May 2023 that it would help shoppers save more than $60 million by reducing product prices. The latest price reductions span several categories, from fresh fruit, bread and avocado oil to canned vegetables and meat. The marketing move comes as food prices remain elevated and economists warn consumers that headwinds are likely to continue. In March, food prices , a visceral reminder of inflation for many Americans, ticked up 0.1% over the course of the month. In total, the cost of groceries is up 1.2% from the same time last year and up a stunning 21% when compared with January 2021, shortly before the inflation crisis began. "ALDI is always looking for ways to help customers save money, but with more experts warning of persistent inflation, the t
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