Walgreens follows Target and Walmart’s lead, reduces prices amid high inflation
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ROCHESTER, N.Y. — Shoppers could save a buck or two, as one drug store announced it’s lowering prices.
Walgreens is following in the footsteps of other retail giants and announcing it will cut prices on 1,300 items amid consumer spending fatigue. The pharmacy chain says the move was in response to high inflation that continues to strain consumers.
As inflation stays elevated, many retailers are taking steps to help ease the burden on shoppers’ wallets by reducing prices on everyday items. Target and Walmart have made similar efforts to slash prices, with Walmart unveiling an entire food line of items costing $5 or less.
Walgreens is the latest to join the trend as it aims to provide some relief to customers feeling the pinch of higher costs across the board. With the busy shopping seasons of back-to-school and the holidays on the horizon, retailers are hoping that lower prices will entice consumers to keep spending despite economic headwinds.
However, it remains to be seen if these price cuts will be enough to combat the effects of inflation and encourage shoppers to open their wallets.
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