President Donald Trump recently claimed that Walmart, one of the largest retailers in the United States, lowered its prices at the request of his administration. However, a statement from Walmart made no mention of the administration’s involvement in the decision.

Price Cuts and Inflation

The price cuts come as the country is experiencing higher inflation, with consumer prices rising 4.2% over the past 12 months. Trump has faced criticism for the rising inflation, which has been attributed in part to his tariffs and the Iran war.

Walmart has benefited from the higher inflation, as consumers have turned to the retailer in search of lower prices. The company’s quarterly earnings, released in May, showed that it had benefited from the increased demand.

Trump has used Walmart as a barometer of the American consumer, previously telling the company to ‘eat’ the cost of tariffs that he had unilaterally imposed. The president’s statement on the price cuts was seen as an attempt to take credit for the move and to deflect criticism of his handling of the economy.

Walmart’s Statement

Walmart’s statement on the price cuts made no mention of the administration’s role in the decision. Instead, the company said that the price rollbacks at Walmart and Sam’s Club ‘are designed to help customers and members make the most’ of the summer season.

The statement noted price cuts for ground beef, corn, red cherries, ice cream, potato chips, and Coca-Cola and Pepsi products. The price cuts are seen as a move to help customers during a time of higher inflation and to boost sales for the retailer.

Original reporting: WLKY Louisville — read the source article.