Walmart is launching a new bargain brand in its grocery lineup, as inflation continues to cripple the country.
Bettergoods features products priced between $2 and $15, with a majority of items under this chain costing less than $5, according to a statement from the discount chain.
“Today’s customers expect more from the private brands they purchase — they want affordable, quality products to elevate their overall food experience,” said Scott Morris, the chain’s senior vice president of private brands, food and consumables. “The launch of bettergoods delivers on that customer need in a meaningful way.”
The Conference Board non-profit announced Tuesday that the consumer confidence index fell to 97 last month, a decline from the revised 103.1 in March. This noticeable dip marks the lowest consumer confidence reading in almost two years.
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Inflation went up 2.7% for the year ending in March, as measured by the personal consumption expenditures price index. From February to March, inflation increased by 0.3%.
Rising inflation in the country is expected to be a major topic among voters ahead of the 2024 elections. The presidential election this year will see Democratic President Joe Biden seek reelection, with former President Donald Trump currently the presumptive nominee for the Republican Party.
