(https://www.cnbc.com/2026/05/13/ppi-inflation-report-april-2026-.html) at 1.4% in April alone — and here's the connection nobody's making: Walmart just cut 1,000 roles to "simplify operations." That's not efficiency theater. That's a company that knows margin defense is over. Staples retailers like WMT became the supposed safe harbor of this downturn because they control both pricing and volume. But there's a lag built into the pain.

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