(MENAFN- AsiaNet News)

• Trump claimed Walmart's Thanksgiving dinner prices are down 25% compared to last year under the Joe Biden administration.
• He says that "affordability" is a key focus of his Republican Party.
• Trump's comments come after his party lost key state posts to the Democrats.

President Donald Trump on Wednesday praised Walmart for offering Thanksgiving meals at affordable prices, showcasing it as a result of his administration's efforts to keep consumer prices in check.

"Walmart just announced that Prices for a Thanksgiving Dinner is now down 25% since under Sleepy/Crooked Joe Biden, in 2024," he posted on his Truth Social account late in the day. "AFFORDABILITY is a Republican Stronghold. Hopefully, Republicans will use this irrefutable fact!"

What Did WMT Say?

Walmart, the country's largest retail chain, last month announced a "Thanksgiving meal" that serves 10 people for less than $40, or $4 per person. The basket includes a Butterball turkey at $.97 per pound, the lowest price since 2019, the company said. That meal is available through Christmas.

The company, however, did not make any outright comparisons between current pricing and sticker prices during the Biden administration last year.

However, a cursory check from October 2024 shows that Walmart's "inflation-free" Thanksgiving meal was priced at less than $7 per person, making the 2025 meal more than 40% cheaper. But according to Walmart, last year's meal comprised 29 items for serving eight people. In contrast, this year's package will accommodate two more stomachs, albeit only with "over 20 national and private brand items."

GOP Takes Major Electoral Beating

Trump's affordability claims come in the aftermath of the Republican Party taking a severe hit in regional elections across the United States on Wednesday. Democrat Zohran Mamdani won the New York City mayoral race, while Mikie Sherrill became New Jersey's next governor, and Abigail Spanberger won the race for Virginia governor. Democrat Ghazala Hashmi also won the lieutenant governor's race in Virginia.

Republican leader Vivek Ramaswamy posted a video of himself on X, calling the losses a wake-up call for the party. "There are two key lessons for Republicans. Listen carefully: Number one, our side needs to focus on affordability, make the American dream affordable. Bring down costs: electric, grocery, healthcare, and housing. Lay out clearly how we're going to do it," he said in the video.

In an earlier social media post, Trump mentioned unnamed "pollsters" who suggested that the losses were due to his absence from the ballot and voters' reactions to the government shutdown.

Is inflation Cool Enough?

Meanwhile, the latest inflation reading – released after a delay caused by a government shutdown – was encouraging. U.S. consumer prices rose 3% in the year through September, below a 3.1% expectation from economists polled by Bloomberg.

XLP sentiment and message volume as of November 5 | Source: Stocktwits XLY sentiment and message volume as of November 5 | Source: Stocktwits

On Stocktwits, the retail sentiment was 'neutral' for both the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) as of late Wednesday. Year-to-date, XLP has declined 3.6%, while XLY has gained 7.4%.

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