Asda has revealed plans to invest more than £73 million to support customers and staff during the cost-of-living crisis over the next year. The supermarket group said it is reducing the price of over 100 popular items, including tea bags, rice and cheddar cheese, for the year as part of the measures.
It added that the investment means shop floor workers will see their hourly rate increase to £10.10 from July. The moves come a week after the company said it will axe its Smart Price range and replace it with new Just Essentials by Asda products, which it said comprises a broader range of products.
Asda, which was bought by the Issa brothers and backers TDR Capital last year, has become the latest supermarket to push down prices of some items as households come under increased financial pressure. Earlier on Monday, rival Morrisons said it would cut the price of around 500 items including eggs, beef and nappies amid the rising cost of living.
