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Supermarket price wars
Southern California's supermarket chains are engaged in a battle for lower prices. Today Vons will announce that it is cutting prices on about 15% of the items in its store. At the same time, Ralphs is discounting prices on produce and often-purchased goods. Their actions are part of an effort to gain back market share from cost-conscious consumers, who have turned to discounters like Wal-Mart and Target. A decline in the price of food commodities has also aided the price cuts. Larry Mantle finds out what this means for consumers and businesses.
Southern California's supermarket chains are engaged in a battle for lower prices. Today Vons will announce that it is cutting prices on about 15% of the items in its store. At the same time, Ralphs is discounting prices on produce and often-purchased goods. Their actions are part of an effort to gain back market share from cost-conscious consumers, who have turned to discounters like Wal-Mart and Target. A decline in the price of food commodities has also aided the price cuts. Larry Mantle finds out what this means for consumers and businesses.
Guest:
Jerry Hirsch, LA Times staff writer