Americas Retail: Supermarkets: July grocery pricing survey reveals slight decline sequentially; price gaps narrowed

Research evidence excerpt

Americas Retail: Supermarkets: July grocery pricing survey reveals slight decline sequentially; price gaps narrowed

Equity Research

16 July 2026 | 2:00AM CDT

Americas Retail: Supermarkets: July grocery pricing survey reveals slight

decline sequentially; price gaps narrowed

In this note, we discuss takeaways from our July grocery pricing survey. Overall, Leah Jordan, CFA

+1(713)658-2691 | leah.jordan@gs.com

prices slightly decreased m/m, with a slight moderation in the y/y inflationary trend. Goldman Sachs & Co. LLC

WMT continued to have the lowest prices overall with a relatively stable basket Kate McShane, CFA

despite its recent announcement detailing incremental price investments, while price +1(212)902-6740kate.mcshane@gs.com|

gaps narrowed as tracked baskets declined across peers (greatest for Whole Foods, Goldman Sachs & Co. LLC

Eli Thompsonfollowed by ACI, DG, and KR). Given an increased investor focus on KR with its +1(713)904-8289 |

planned step-up in price investments, we note its price reductions this month appear eli.thompson@gs.comGoldman Sachs & Co. LLC

targeted in produce with it now tracking as the lowest of the group, highlighting

produce is typically a traffic driving category. We also evaluate HundredX insights on

price and value across the food retail landscape.

Takeaways from our grocery pricing survey

We performed a brief study on July 13, 2026, surveying the prices of 38 SKUs in

dairy, frozen goods, dry grocery, HPC, and produce categories. The retailers surveyed

include Kroger, Albertsons, Walmart, Sprouts Farmers Market, Whole Foods (WFM),

and Dollar General.

WMT continued to have the lowest prices

As highlighted in Exhibit 1, WMT had the lowest prices at -14.5% vs. the group