Walmart's new pricing survey shows inflation is close to 4%
Walmart has developed a pricing survey which has become a defacto inflation indicator. It is showing what we have been saying for a long time, that inflation is the real bully that the Fed and the world should be worrying about. Inflation in the UK, is dangerously close to 4%, and odds are it will be reaching that point at some time in the not to distant future. Via CNBC:
A new pricing survey of products sold at the world’s largest retailer showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close to four percent higher a year from now, double the Fed’s mandate.
The “inaugural price survey shows a small, but meaningful increase on an 86-item grocery basket,” said Patrick McKeever, MKM Partners analyst, in a note. Most of the items McKeever chose to track were every day items like food and detergent and made by national brands.