Whole Foods Requests Suppliers Lower Prices

In a recent meeting, Whole Foods requested suppliers lower prices on packaged foods.

Over the past year, inflation has caused the price of groceries to skyrocket, making shopping a financial pain for buyers. According to a recording of a meeting between Whole Foods and its suppliers viewed by The Wall Street Journal, the grocer requested that suppliers lower the costs of products so, in return, it could lower its own prices.

A spokesperson for Whole Foods told The Journal that the company has been working over the last year to offer customers promotions as well as lowering the prices of some store items such as cereal, bread and sparkling water. The spokesperson also noted that Whole Foods’ rate of price increases has been lower than the average for the industry.

Although food inflation is believed to begin moderating, consumers have yet to see the price drop in all areas of the grocery store. Fox Business reported, “During periods of slowing inflation, prices of commodity-linked items such as meat, produce and dairy have historically decreased, while packaged foods haven’t tended to change much, supermarket operators said.”