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  /  World News   /  ALDI cutting prices on items to help combat ‘stubborn inflation’

ALDI cutting prices on items to help combat ‘stubborn inflation’

(NEXSTAR) — ALDI announced that it’s slashing prices on more than 250 items this summer to help ease “sticker shock at the checkout.”

The discount grocer said in a news release that it is reducing costs on seasonal products, such as barbecue essentials and travel-ready snacks through Labor Day (which falls on Sept. 2 this year). Certain meats, however, will only be discounted through July 10.

“We don’t want food prices to hold people back from getting together with friends and family or spending time outdoors this season,” ALDI President Dave Rinaldo said in a statement.

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While ALDI said it wants to help customers combat “stubborn inflation,” the price cuts aren’t very deep for a lot of products included in its summer sale.

A Specially Selected French baguette, for example, now costs $1.49 (down 10 cents from its original price of $1.59). Similarly, a $5.65 bottle of organic avocado oil was reduced by 16 cents.

Shoppers can save a bit more on other foods, like a USDA Choice Black Angus Sirloin Steak that was discounted from $8.49 to $6.99. More sale items are listed below:

ItemReduced PricePrevious PriceSimply Nature: Organic Avocado Oil$5.49$5.65Season’s Choice: Frozen Blueberries (24oz)$3.59$3.99Simply Nature: Organic Pinto/Kidney Beans$0.99$1.16Specially Selected: French Baguette$1.49$1.59Simms: Summer Sausage$4.19$4.49Simply Nature: Organic Granola Bars$3.49$3.99Benton’s: Cookie Thins$2.69$2.99Southern Grove: Sunflower Kernels (16oz)$2.79$3.39USDA Choice Black Angus Sirloin Steak*$6.99$8.49Family Pack Chicken Breast*$2.19 per lb.$2.49 per lb.Season’s Choice: Frozen French Fries (32oz)$2.49$2.79Park Street Deli: Pulled Pork/Pulled Chicken$6.99$7.49*Reduced through July 10, 2024 | Source: ALDI

The company said it’s aiming to save shoppers an estimated $100 million with its price reductions, almost double the amount saved during a similar campaign last year.

ALDI isn’t the only grocery store chain that has announced price drops in recent months. Back in March, a Trader Joe’s spokesperson told Nexstar that the company had reduced prices on select items. Raw almonds dropped by a dollar per pound, while romaine lettuce hearts saw a 50-cent reduction, and green onions are now at 99 cents. On the flip side, the price of its bananas increased slightly for the first time in over two decades: from 19 cents to 23 cents.

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Earlier this year, White House officials pressed grocers to lower prices for consumers. Public frustration over rising costs has become a key issue in President Joe Biden’s bid for reelection.

“We’ve seen elevated (profit) margins, particularly in the grocery sector, and have taken note that there needs to be more pass-through there (to consumers),” said Jared Bernstein, the chair of Biden’s Council of Economic Advisers, on Feb. 2, according to Reuters.

Lael Brainard, director of the National Economic Council, reiterated the sentiment during a Feb. 15 news conference, saying: “Certainly, people are fed up with high prices. The prices of the things that they buy on a weekly basis, groceries in particular, are not back to normal.”

U.S. prices for food eaten at home usually rise 2.5% per year, but in 2022 they rose 11.4% and in 2023 they rose another 5%, according to the U.S. Department of Agriculture.

The Associated Press and Nexstar’s Alix Martichoux contributed to this report.