JOE BIDEN'S WALMART REMARKS RAISE EYEBROWS
Joe Biden's comments about a Walmart store that will offer the same prices as before the COVID-19 pandemic have stirred criticism and questioning among Republicans, who have accused him of lying.
"Walmart just announced that they're going—they've opened a new store and they're just announced that they're going to charge for all the products there the same exact price it was charged before the pandemic," the Democratic president said during a campaign event in Wilmington, North Carolina, on Thursday.
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RNC Research, a social media account managed by the Republican National Committee, shared a video of the remarks on X, formerly known as Twitter, accusing Biden of "lying again" as they claim the Walmart offer "applies to select Walmart grocery items only."
Newsweek contacted Walmart and the White House for comment by email early on Friday.
Here are the facts. Walmart announced earlier this year that it will be opening more than 150 new stores over the next five years, creating "tens of thousands of jobs". It will also remodel 650 existing stores across 47 states and Puerto Rico over the next 12 months. The first two stores are opening in Santa Rosa Beach, Florida, and Atlanta, Georgia, this spring.
When it comes to prices, there's evidence of Walmart president and CEO Doug McMillon saying that the company is in fact seeing lower prices when it comes to food.
In February, when the company released its latest revenues data, McMillon said that his team was working to "bring prices down for our customers and members."
"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."
Other products, including dry grocery and consumables categories, "like paper goods and cleaning supplies, are up mid-single digits versus last year and high teens versus two years ago. Private brand penetration is up in many of the countries where we operate, including the United States," McMillon said.
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Food prices have increased by 25 percent since the beginning of the pandemic, according to Federal Reserve Economic Data (FRED). Though inflation has come down significantly since its 2022 peak, U.S. consumers are still feeling the pinch of high prices.
Biden has acknowledged this, but has blamed companies for keeping prices up.
"Inflation is coming down. It's now lower in America than any other major economy in the world. The cost of eggs, milk, chicken, gas, and so many other essential items have come down," the president said in February. "But for all we've done to bring prices down, there are still too many corporations in America ripping people off: price gouging, junk fees, greedflation, shrinkflation."
The president called on U.S. grocers to lower the price of food. During Walmart's fourth-quarter earnings call, CFO John David Rainey indirectly refuted claims of price gouging.
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2024-05-03T11:15:44Z dg43tfdfdgfd