Breitbart Business Digest: The Inflation Tax Hits Walmart

When inflation increases the cost of necessities like food and energy, it draws spending away from other parts of the economy. This dynamic – often referred to as the “inflation tax” – is now expected to take a big bite out of Walmart’s earnings.

A Wal-Mart employee walks through a parking lot as she returns to work at a Wal-Mart store on June 23, 2004, in St. Charles, Illinois. (Tim Boyle/Getty Images)