'Stubborn' food inflation leaves U.S. shoppers with slim appetite for other goods

As American shoppers stomach soaring food prices, they are cutting back on purchases of other goods, such as toys, clothing and housewares, in a challenging trend for retailers.

Commentary this week from executives at Walmart (WMT.N) and other retailers shows how Americans are shifting their shopping habits and hunting for bargains in the face of the highest inflation in a generation.

At Walmart, the world's biggest retailer by revenue, Americans are still spending but are more "choiceful, discerning, thoughtful" about what they buy, its global Chief Executive Officer Doug McMillon told analysts.

Higher prices on food led to soft sales of electronics, toys, home and apparel in the most recent quarter at Walmart. McMillon said he believed inflation on dry groceries and items made for immediate consumption would remain high "for a while".

The average cost for food consumed at home climbed 11.3% in January from a year earlier, Labor Department data showed.