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For a large part of the year, higher prices were the standard, requiring the need to budget or recover the coupon as a hobby. We may have learned to live with Inflated price , but that does not make them less frustrating, especially with regard to the weekly need to buy grocery products. However, even if it once seemed that there was no end in sight, a Kroger leader says that relief is on the horizon. Read the rest to find out when the company predicts that the prices of the grocery store will finally drop.

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For a November 30 profit call , Kroger leaders discussed the imminent "deflation" in 2024, which would bring a certain relief with the prices of the grocery store.

"I think that our point of view at the moment, we recognize that we do not have the perfect crystal ball, and we will continue to watch and assess how we see the prospects for next year", " Gary Millerchip , Said Kroger's financial director, on the call. "But overall, most of the data we see would tend to point more than a typical year of next year."

In terms of food inflation rate, Millerchip said Kroger foreshadowed that "in the low turnover rate" in 2024. CEO of Walmart Doug McMillon Also intervened on this "deflationary environment" during a November 16 profit call .

"We think we can see medication, grocery store and consumables start to deflate in the weeks and months to come," said McMillon.

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Kroger's third trimester results were weaker than expected , the sales falling slightly from last year, reported Grocery Dive. However, according to Millerships, this was affected by the fact that "global sales continue to be affected by disinflation on the scale of industry".

"Inflation slowed down a little faster than what we expected," Kroger CEO said Rodney McMullen said in an episode of November 30 of CNBC Squawk in the street , quoting this as one of the main reasons why the company has also reduced its expectations of sales growth this year.

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According to CNN, the pace of food inflation slowed down last month, but food prices in general were still top trend . Illustrating this, McMullen noted that overall, Kroger always expects to see a "slight inflation" during the rest of 2023 and in 2024. AE0FCC31AE342FD3A1346EBB1F342FCB

"If you look in the grocery area, there is more deflation there," said McMullen during the CNBC interview. "If you look at eggs and things like that, you certainly see a deflation there. But when you look at the meat, we expect - especially the beef - this inflation will be there. So, when you mix everything, We would touch on slight inflation through the balance of the year. This is also what we are also expecting for 2024. "

In terms of other lower prices, in November, CNN noted that the prices of staples such as bacon, seafood and eggs were down, and McMillon added that chicken prices, seafood and dairy products were also lower.

Although the idea of spending less on the grocery store is certainly attractive, there can also be negative repercussions for the economy, reports CNN.

When prices drop, it signals a drop in demand and if you anticipate a drop in prices, you could hang on to buy something. With a large part of the people who do this and spend less, it can stimulate major events such as layoffs and even a recession, by CNN.

However, Business Insider said that the recent downward trend did not lead to any of these scenarios. When the decline occurs without unemployment and recession, economists call for the "immaculate disinflation" situation.

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