- Grocery prices have fallen since Amazon‘s purchase of Whole Foods last year.
- Prices in the US fell 0.3% in the 12 months ending in June, compared to a 0.6% increase over the same period last year, according to data from Adobe Analytics.
- “Amazon is having downward pressure on pricing when it comes to groceries,” according to Siddharth Kulkarni, a data science manager and analyst for Adobe Digital Insights.
Grocery stocks were hammered after Amazon cut prices at Whole Foods last year.
But one year after the acquisition, there has been only a minimal decline in grocery prices in the US.See the rest of the story at Business Insider
NOW WATCH: What it’s like inside North Korea’s controversial restaurant chain
See Also:
- Amazon’s Prime Day website glitches didn’t stop it from setting record sales — but it was still a risk to the most important part of its business
- Amazon is giving Prime members up to $ 30 in free cash for shopping at Whole Foods
- Amazon is making it harder and harder to quit Prime
SEE ALSO: Amazon’s discounts for Prime members just hit all Whole Foods stores. Here’s how to find the deals.
