As consumer sentiment slides into fall and elevated gasoline and diesel prices squeeze lower-income households, Goldman's latest grocery survey identifies one top theme for budget-conscious shoppers: Walmart remains the lowest-priced retailer among the six chains surveyed, with prices averaging 15.7% below the group average.

Goldman analysts led by Leah Jordan, an equity research analyst covering food retailers and packaged-food companies, surveyed prices at Kroger, Albertsons, Walmart, Sprouts Farmers Market, Whole Foods (WFM), and Dollar General. Her team found that Walmart's surveyed prices were 15.7% below the group average in October, compared with 13.4% below in September.

Jordan said Dollar General ranked second, offering prices 7% below the average, versus 6.1% a month earlier.

At the other end of the list, Jordan found that Whole Foods' prices stood 10.9% above the surveyed average, followed by Sprouts at 9.8% and Albertsons at 6%. However, Kroger came in 2.9% below the average.

The note, titled "Americas Retail: Supermarkets: October grocery pricing survey shows relatively stable prices sequentially; price gaps widened," was published on Tuesday and tracked 38 products across dairy, frozen foods, dry groceries, household and personal care, and produce. 

Digging deeper into the note, Jordan's team found that Walmart offered the lowest surveyed prices in four of the five categories, with dairy 20.4% below the category average and produce 19.2% below. Its produce prices fell 7.4% from September, while dairy declined 2.9%. Dollar General was cheapest in household and personal-care products.

The latest survey points to price relief for consumers, but it is highly selective and depends on the supermarket chain. Among the retailers surveyed, Walmart remains the lowest-priced option.