Whole Foods Asks Suppliers to Lower Prices

Whole Foods Market is asking suppliers to lower its prices to help the supermarket chain bring prices down on packaged groceries as inflationary pressures ease. Higher transport and labor costs have fueled higher food costs, which have been passed on to consumers. While grocery-store operators have generated higher sales and profits, consumers are reducing purchases and opting for lower-cost items. A spokesperson for Whole Foods said that the company’s rate of price increases has been lower than the industry average and is committed to ensuring that prices reflect easing inflation.