Walmart Set to Cut Grocery Prices

Blogging Stocks reports that Walmart is ready to start slashing its grocery prices, putting more pressure on its competitors. The cuts will be across all of the retailer's grocery lines.

Over the next six weeks, the mega-retailer will cut food prices and start a new advertising campaign to promote the move. Grocery stocks, on the other hand, will be running for cover over the same period. This is, as expected, a move by Walmart to keep the customer foot traffic it recruited during the recession in 2009 who now may be returning to rival competitors for purchasing their wares.

What do you think about the move by Walmart? Will we see the competitors drop their prices; and how will this effect the US economy?

Learn more: Walmart Again Vows to Slash Grocery Prices Nationwide