Walmart is lowering prices on more than 11,000 products.
And Walmart's a big one. A good place to start for the retail sector, especially we're talking about food and groceries, because they recently said, "Look, in response to the weakest sales figures we've seen in six years out of Walmart, they're cutting the prices on 11,000 items, which is double the number that they normally do.
The lowest cost retailer is lowering costs on double the number of stuff that it normally does." That tells you everything you know about this inflationary scenario. I mean, just think about what that means.
The largest retailer in the US is not behaving as if it can freely pass every additional cost on to its customers. It is investing aggressively in lowering prices to protect sales volume and to gain market share from those who can't follow along.