Whole Foods Market plans to raise prices on 550 items due to suppliers charging more as a result of inflation, reports Fortune. The average increase for items is 66 cents. In addition, it raised prices on another 50 items earlier in February, as 700 contracts to sell certain goods at low prices expired.
Whole Foods Market notes it's seen increased costs from suppliers "due to materials, labor, and transportation, and we've absorbed much of the inflation." It argues many prices "have also decreased." The company said in a statement, "We remain committed to continuing to lower prices with Amazon as we deliver on our mission to make high-quality, natural, and organic food more affordable and accessible." Full Story
Related: Amazon's Brick-and-Mortar Revenue Drops; Whole Foods Sets Sights on Rapid Expansion.
from Industry Operations http://bit.ly/2BwuOBW
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