Costco Just Announced a Major Change to Grocery Prices
Grocery prices have been steadily increasing over the past few years, and we’ve all been feeling the impacts of inflation. I know I’ve had a few moments of shock when looking at the cash register and seeing the hefty total for a handful of items.
Over the summer, many businesses like Target and Aldi slashed prices on items to give consumers a break and make room for some much-needed summer fun. This time around, Costco shoppers have something to look forward to and may leave the big-box store with a little extra money in their wallets.
In a recent earnings call, Costco revealed it is slashing the prices of numerous Kirkland Signature items.
This includes pantry staples like Spanish Olive Oil, going from $38.99 to $34.99 for a 3-liter bottle, to macadamia nuts, originally $18.99, now $13.99. (Grab a bag, make these cookies, and thank us later.)
The price cuts also come on household goods: Laundry packs are down at $18.99 from $19.99, and standard foil is $29.99 instead of $31.99.
With back-to-school season in full swing, you’ll be happy to know that you can save big on these lunch and dinner finds as well. Costco’s two-pack baguette will cost you $4.99 (down from $5.99), plus the price of Kirkland Signature Boneless Chicken Tenders has decreased by 13%, resulting in a 21% increase in total pounds sold — a win for both the company and the consumer. (Need some dinner inspo? Try this crispy oven-baked chicken tender recipe that’s sure to be a crowd-pleaser and is served with a trio of dips.)
Costco Chief Financial Officer Gary Millerchip said, “Kirkland Signature offers significant member value compared to the national brands and continues to grow at a faster pace than our business as a whole.”
However, this comes at a time when the company just increased membership fees for the first time in seven years. Back in July, Costco announced it would be increasing the cost of the Gold Star membership from $60 to $65, and the Executive Membership from $120 to $130. The membership fee increases recently went into effect on September 1, so we hope these savings are here to stay.
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