Check Out Wal-Mart’s price cuts for eggs, milk, butter and bread in Ontario, Canada.

If you are counting pennies but still want that morning coffee and omelet, you can now buy one- and two-liter milk cartons for $1.77 and $2.97 respectively or a dozen large eggs for $1.97, if you shop at Wal-Mart’s Ontario stores.

The world’s top discount retailer said that besides cutting prices for those staple food items in its Ontario stores, it will also slash prices on hundreds of products across Canada in September, after a round of different price cuts in August.

Wal-Mart’s decision is yet another nod to the fact that more and more shoppers are squeezed for money these days.

“With looming back-to-school costs, gas-pump woes, food-price hikes, and a struggling provincial economy, times are tough for many of our Ontario customers,” said Vi Konkle, Wal-Mart Canada’s chief customer officer, in a release.

It certainly looks like Wal-Mart is paying close attention to consumers’ money-saving actions, such as drawing up shopping lists to avoid spending extra money, consolidating shopping trips, avoiding costly items and buying cheaper store-brand products.

Konkle said milk, butter, eggs and bread feature prominently on people’s shopping lists, and that is why they’re getting their prices cut.

With that move in Canada, how far behind is a round of price reductions in the United States?

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(Photo: Reuters)