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Supermarket sweep: Morrisons joins rivals in cutting prices

Rebecca Goodman
Written By:
Rebecca Goodman
Posted:
Updated:
24/01/2023

Morrisons is reducing the price of 820 items to help customers with the rising cost of living.

The move brings the total amount of reduced-items to over 1,000 and prices will be locked for a minimum of eight weeks.

It follows on from Tesco announcing it will freeze the price of over 1,000 items until April 2023.

The price reductions have been made in an attempt to help customers facing a cost of living crisis with inflation at 10.5% and annual food inflation at 13.3% in December, up from 12.4% in November, according to the British Retail Consortium (BRC) and the data firm Nielsen.

Morrisons customers to see savings of 20%

Morrisons says customers will see an average saving of 20% after the price cuts across fresh produce, cupboard essentials and family meals.

Some of the reduced price items include a loose aubergine, reduced from 79p to 69p, a four-pack of pears, reduced to £1.39 from £1.59, a 227g sirloin steak reduced to £4.35, from £4.85, and a 2.5litre bottle of sanitiser from Dettol, reduced from £9 to £6.

Earlier this year, the supermarket cut the cost of 130 of its lowest priced ‘Saver’ products. Today’s news comes just weeks after consumer group Which? voted Aldi as the cheapest supermarket for 2022 and said Morrisons had hiked prices by the highest amounts.

The discount supermarket also knocked Morrisons off the spot as the fourth-largest supermarket for the first time last September.

David Potts, chief executive, said: “Today’s cuts demonstrate our continued commitment to doing all we can to help when it comes to the cost of grocery shopping.

“In addition to the cuts we made to the Savers range at the start of the month and then our fuel promotion, we’re now cutting the price on even more popular products to help make a positive difference to the pockets of our customers.”

Aldi price match

Several supermarkets, including Sainsbury’s and Tesco have also introduced an ‘Aldi price match’

Earlier this month, Simon Roberts, chief executive of J Sainsbury plc, confirmed the shop would launch its biggest ‘Aldi price match’ to date with the price of 300 products matched to the discount supermarket.

He said: “We understand money will be exceptionally tight this year particularly as many people wait for Christmas bills to land.

“We are working together with our suppliers to battle cost inflation and we’re keeping prices low again this year with our biggest value campaign yet in January, price matching Aldi on around 300 of our most popular products.”

Tesco also offers an ‘Aldi price match’ and it says it checks prices once or twice a week to make sure similar items are priced at the same level at both shops.

Last week it was also reported that basic food prices had risen 30% in a year.