Now that George Soros is buying more gold, you might like to know that Walmart’s same-store sales in the United States dropped 2% in the quarter ending in January compared with a year earlier, the company said Thursday. This is largely because of price declines on food items and consumer electronics. Deflation has affected its sales for more than a year.
Inflation may pick up. For example, stimulus efforts are raising the prices of commodities. And Wal-Mart’s customers will eventually have more to spend. But using Walmart as a consumer bellwether, serious inflationary pressure could be further off than the inflation vigilantes are ranting abt. For the short-term, one very impt driver of inflation, consumer spending, has gone AWOL, what with unemployment and US consumers repaying their loans.