Morrisons and M&S have announced price cuts to products across all of their UK stores from today.
The supermarket chain Morrisons said it was cutting the price of 47 products across all 499 of its stores and online by an average of 25%.
Products subject to the price cuts include beef mince, ham, tomatoes, spinach, pitta breads, and butter as well as cupboard staples such as squash and cereals.
Morrisons said the pledge for these cuts across eight weeks would cost the chain around £26million.
This is the chain’s sixth round of reductions this year.
Last month, Morrisons reduced or held the price of a further 1,000 products which will remain locked low until mid-July.
Rachel Eyre, chief customer and marketing officer at Morrisons, said: “Providing great quality products at affordable prices for our customers is a key priority at Morrisons.
"Our steady flow of deep and broad price cutting programmes, together with our new More Card loyalty scheme, are helping customers save money on their weekly shop.
"Today’s price cuts include picnic items to help our customers make the most of the warm weather and we’ve not forgotten the fridge and cupboard essentials either.”
Alongside this, the upmarket chain M&S will also be slashing or freezing the prices of over 200 of its products from today.
M&S announced today that it was to cut the price of over 70 family staples for the next four weeks and extend its price lock on 150 customer favourites until the Autumn.
Some of the products affected by the cuts include beef mince, avocados, Greek style yoghurt and Ciabatta rolls.
M&S says these are some of its "most popular lines" with over 400,000 avocado packs and 140,000 Greek style yogurt pots sold by M&S in the last four weeks.
Products included in the price lock are British pork sausages, super sweet corn on the cob, coleslaw, British mature cheddar, and potatoes.
Alex Freudmann, managing director at M&S Food said: “We know value is everything to our customers right now, and while they’re looking forward to a great summer, they’re also looking for certainty on spending.
"Our latest price investment across 200 products upholds our trusted value promise and delivers on that certainty.
"We’re determined to keep up the pace for our customers. Our value perception is at its highest point in six years because we are relentlessly focused on price with no compromise to the magic of M&S Food – our market leading product quality, innovation and sourcing standards.”
The cuts in food prices across a range of major UK supermarkets are a sign that inflation is easing.
Food inflation remained at a near record high of 19.1% in the year leading up to May - this means that food prices are 19% higher than they were last year.
This was slightly down from 19.2% recorded the month earlier.
The Office of National Statistics (ONS) said food prices were one of the reasons why overall inflation remained elevated at 8.7%.
Even though inflation is coming down, it it worth nothing that it doesn't mean prices are to drop, it just means that prices are rising as a slower rate.
