Despite persistent inflation, there is a bit of good news for consumers as the holiday season approaches. Walmart and Aldi both announced they will reduce prices for Thanksgiving and Christmas meals.
The news comes as Forbes reported that the cost of groceries ahead of Thanksgiving has skyrocketed overall.
This is not the first time both companies have cut prices for holiday meals. However, Walmart, which has more than 4,600 stores in the United States, said it is offering two Thanksgiving meal baskets that will cost even less this year than they did last year. One option will be for customers who like to cook from scratch, and the other will be for customers seeking more ready-to-bake options, according to the Arkansas-based retailer.
Walmart did not disclose how much the baskets will cost but said it would include staples such as a turkey, priced at under $1 per pound, as well as ham, stuffing and pumpkin pie. Walmart said its customers are able to take advantage of the lower costs through December 26.
Similarly, Aldi. which has more than 2,300 locations nationwide, plans to cut prices on more than 70 “holiday classics.” The company will reduce prices up to 50 percent on items throughout the store, including gravy, potatoes, green beans, cranberries, pumpkin pie, butter and flour. These price cuts also will last throughout the entire holiday season
“With inflation still looming, we’re providing shoppers extra relief to make the holidays a time for celebration, not stress,” Aldi President Dave Rinaldo said.
Earlier this month, the U.S. Labor Department reported that the consumer price index rose 0.4 percent in September from the previous month. Prices climbed 3.7 percent from the same time last year, matching the August reading and coming in slightly higher than the 3.6 percent projected. Grocery prices jumped 0.1 percent month over month and are 2.4 percent higher than they were a year ago, according to the data. However, it is a far cry from the double-digit increases seen last year and earlier in 2023.