Customers shop at a Target store in Miami on Monday.Joe Radle/Getty Images Hide Caption
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Customers shop at a Target store in Miami on Monday.
Joe Radle/Getty Images
Target announced Monday that it is cutting prices on 5,000 common items to help consumers save money.
The company says the discounts will be on items such as “milk, meat, bread, soda, fresh fruits and vegetables, snacks, yogurt, peanut butter, coffee, diapers, paper towels, pet food, and more.”
Target said it regularly updates its prices to remain competitive in the market.
“We know consumers are feeling pressured to make the most of their budgets, and Target is here to help them save even more,” said Rick Gomez, executive vice president. .
The company said it has already reduced prices on about 1,500 items and will continue to do so throughout the summer, including Memorial Day, back-to-school season and Independence Day.
For example, a 20-ounce package of Thomas Plain Bagels will go from $4.19 to $3.79 in some areas. 75 Clorox Scented Wipes are going from $5.79 to $4.99. A 1-pound container of Good & Gather Unsalted Butter will go from $3.99 to $3.79.
The personal consumption expenditure (PCE) price index, which the Federal Reserve uses to measure inflation, rose 2.7% in March from a year earlier, according to the Bureau of Economic Analysis. The Fed typically wants to keep this number at 2%.
