Morrisons slashes prices by 20% on fresh and cupboard essentials
Morrisons has cut the price of more than 60 items by almost 20% in its latest move to help customers amid the cost-of-living crisis.
The supermarket chain said it is investing £25m to cut prices across 64 own brand products.
These include fresh produce and cupboard essentials such as carrots, potatoes, coffee and rice, and will see shoppers pay almost 20% less.
Morrisons will also run offers such as ‘two for £2’ on selected crisps, ‘three for £2’ on soft drinks and ‘two for £1.80’ on cereals.
Below are some product examples, which will be available in all 498 Morrisons supermarkets and the majority of products can be found online:
Morrisons said it has invested £148m into cutting prices over the last six months.
David Potts, chief executive, said: “We are just seven weeks into 2023 and already this is our fifth significant price activity of the year. These latest price cuts follow hard on the heels of two notable in store price cuts involving well over 1,000 products, and two strong fuel promotions, demonstrating our determination and commitment to make a positive difference to our customers’ pockets.”
Morrisons’ price drop follows price hike
However, data from The Grocer revealed that Morrisons hiked prices by almost a fifth in the past year. This is more than any other major grocer, and is double the rise noted at Sainsbury’s.
As a example, a typical shopping basket at Morrisons cost £75 this month, 18% more than this time last year.
This data echoes Which? analysis last year which found Morrisons was £20 more expensive than rivals for a comparable sample of goods, while research from credit rating agency Moody’s suggested it “rapidly” increased prices in June.
The price hikes are presumably a driving factor in customers switching away from Morrisons towards budget rivals Aldi and Lidl.
In fact, Aldi sales have been boosted by Brits looking to cut back on their shopping bills and in September last year, it knocked Morrisons off the spot as the fourth-largest supermarket for the first time.
Aldi has today confirmed expansion plans, pledging to almost double its 60-strong estate within the M25 and create around 2,400 jobs. Aldi currently has more than 990 stores across the UK and will open its 1,000th store later this year.