Target to lower prices on about 5,000 basic goods as inflation sends customers scrounging for deals

By MICHELLE CHAPMAN
AP Business Writer

Target plans on cutting prices on thousands of consumer basics this summer, goods ranging from diapers to milk, with more Americans paying closer attention to their spending as inflation cuts into household budgets. The price cuts on as many as 5,000 food, beverage and household essential items is a bid to follow customers, many of whom are deploying a mix of strategies to find relief at the register. Last week McDonald’s said that it was planning to introduce a $5 meal deal in the U.S. next month to counter slowing sales and customers’ frustration with high prices. Walmart posted strong quarterly sales last week, driven by a influx of customers looking for bargains.