The American shopper is still feeling "stressed" by inflation, but the effects aren't being felt evenly across categories, Walmart CEO Doug McMillon said Tuesday. "We've got some customers who are more budget-conscious that have been under inflation pressure now for months," he told CNBC's "Squawk Box." "That sustained pressure in some categories, I think, is something customers are having to deal with as we approach Christmas." Shoppers are being more selective about their purchases, McMillon said, and skipping some electronics, for example, in favor of staples. As the nation's largest grocer, Walmart has used low-priced groceries to attract customers — including wealthier ones.

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