Supermarket giant Morrisons has followed in ASDA's footsteps with a change to its pricing system. Earlier today, ASDA announced a major shift in its prices for hundreds of products.
Now Morrisons has followed suit. Morrisons has cut the prices of hundreds of products including eggs, beef and nappies amid the rising cost of living. The UK’s fourth-largest supermarket said it has lowered the cost of more than 500 products – including refrigerated, frozen and store cupboard food, meat and cereal – accounting for around 6% of its total volume of sales.
The move comes as shoppers are increasingly turning to cheaper own-brand products, while the cost of groceries is now 5.2% higher than a year ago, according to data analytics company Kantar. Morrisons chief executive, David Potts, said the price drops would make a noticeable difference to consumers.
