While Walmart is still seen as the price leader in the grocery industry, its rivals aren't far behind. In a recent report, Telsey Group analyzed online grocery prices across seven retailers including Walmart, Target, Amazon Fresh, Kroger , Albertsons , Sprouts, and Whole Foods in Denver, Colorado. Analysts specifically looked into 40 key items across two categories, including "several premium items.
With these CPG companies helping to drive down price, major grocers "are able to really be aggressive and, you know, price competitively for the consumer." Food at home prices, otherwise known as groceries, are still about 20% higher than in 2019. However, overall inflation has dropped significantly from the highs seen in 2022. In May, the cost of food rose only slightly, up 0.1% over the course of the month, and grocery prices were unchanged.