President Trump cites falling grocery prices, improving retail stores nationwide

President Donald Trump on Sunday touted improving consumer prices, saying some retailers were offering Thanksgiving meals at lower prices than they would have been under the Biden administration.

President Trump told reporters at Palm Beach International Airport before departing for Joint Base Andrews that prices are “already much lower than they were under the previous administration.”

President Trump said, “From an economic standpoint, prices for things like food have gone down significantly.”

The president added that his administration worked over the weekend to address price concerns, suggesting Americans could see further relief soon.

President Trump praises Walmart for slashing prices on Thanksgiving meals

“We worked on it this weekend,” Trump said. “And you’re going to see some items that are a little bit more expensive. It’s lower than the last administration, but it’s a little bit more expensive. We’re going to have some small price reductions, and in some cases, some things that are pretty good.”

The president also noted that some Thanksgiving meals will be more affordable this year.

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The photo is of Thanksgiving dinner. In recent years, grocery stores have been offering discounted Thanksgiving meal packages to lure shoppers as inflation has squeezed household budgets. (St. Petersburg)

“Affordability is much better for us,” Trump said. “Also, I go to Walmart and other businesses, and in each case it’s about 25%. Thanksgiving meals and the surrounding areas are 25% lower than they were under the Biden administration.”

Earlier this month, Trump similarly praised Walmart’s Thanksgiving discount menu in a speech at the American Business Forum.

“Walmart just announced that the cost of a standard Thanksgiving meal…is 25% lower than it was a year ago. Isn’t that amazing? That’s a big deal,” he said.

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Friday, November 24, 2023, at a Black Friday Walmart store in Secaucus, New Jersey. In October, Walmart announced it would launch its annual Thanksgiving meal basket, which includes 20 national and private brand products, including Butterball turkeys. (Victor J. Blue/Bloomberg via Getty Images/Getty Images)

Walmart announced in October that it would launch its annual Thanksgiving meal basket. The basket includes 20 domestic and private label products, including Butterball turkeys, and serves 10 for less than $40.

This equates to about $4 per person and could help ease the pressure many families face as food prices remain high.

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In recent years, grocery stores have been offering discounted Thanksgiving meal packages to lure shoppers as inflation has squeezed household budgets.

Walmart did not immediately respond to FOX Business’ request for comment.

FOX Business’ Daniella Genovese contributed to this report.