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Instead, expenses came in below forecast.
Revenues were also below forecast (at $17.9bn, compared to $18.3bn).
Inflation has persistently tended to come in below forecast.
Wal-Mart's August sales were less than expected, the second consecutive month they were below forecast.
The three factors combined meant that the company's 2000 profit would be about $8.6 million below forecast.
Savings will be higher if inflation is higher than forecast, but lower if inflation comes in below forecast.
Similar(34)
However, spending only rose by 0.2%, below forecasts.
The results were drastically below forecasts of about £7 million.
That was well below forecasts for about 5 percent.
Meanwhile industrial production grew 3.2%, below forecasts of a 3.6% rise.
According to a December survey by the National Conference of State Legislatures, 43 states report revenues are below forecasts.
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