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Morrisons cuts prices of 500 items to help with soaring inflation

// Morrisons slashes the prices of hundreds of products to help shoppers with the rising cost of living
//  Items being discounted include cereal, cooking sauces, chicken and sausages as well as flour, bread and ham

Morrisons has cut the prices of hundreds of products including eggs, beef and nappies amid the rising cost of living as shoppers head to discounters Aldi and Lidl.

The cost of living is rising at its fastest rate in 30 years in part due to soaring food prices. In response to this, the supermarket has lowered the cost of more than 500 products.

This includes refrigerated, frozen and store cupboard food, meat and cereal – accounting for around 6% of its total sales volumes.

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The cost of groceries is now 5.2% higher than a year ago, according to Kantar, and Morrisons chief executive, David Potts said the price drops would make a noticeable difference to shoppers.

“We know that our customers are under real financial pressure at the moment and we want to play our part in helping them when it comes to the cost of grocery shopping,” he said.

“These price cuts will have a noticeable and long-term impact on our customers’ budgets and demonstrate our commitment to offering them the best possible value.”

A 30-pack of own-brand eggs will sell for £2.99 instead of the previous £3.40, while a pack of paracetamol will cost 29p, down from 65p.

Shoppers can also buy a 430g pack of Morrisons British diced beef for £3.59 rather than £3.99, and a 33-pack of Nutmeg-brand nappies for £1.29, down from £1.40.

Along with Asda, Morrisons has been one of the supermarkets hardest hit by shoppers cutting back with Kantar flagging that Morrisons sales have dropped 11.5% in the last three years.

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The post Morrisons cuts prices of 500 items to help with soaring inflation appeared first on Retail Gazette.



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