Secret Walmart Survey Shows Inflation Already Here
Published: Thursday, 11 Nov 2010
2:59 PM ET Text Size By: John Melloy
Executive Producer, Fast Money
There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart.
A new pricing survey of products sold at the world’s largest retailer [WMT 54.34 -0.17 (-0.31%) ] 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...
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