Morrisons shoppers have faced the biggest price rises compared to any other major UK supermarket last year, causing them to vote with their feet and switch to other retailers.
According to a report by credit agency Moody's, the supermarket giant started raising the cost of products at a "rapid pace" from June onwards and although discounters Aldi and Lidl also increased prices, the rises were not as rapid as Morrisons, the UK's fifth biggest retailer.
Customers at all supermarkets are facing the biggest hikes for 45 years, with food prices up by 16.4 per cent, but Morrisons shoppers suffered worse than others. As a result, sales for Morrisons dropped by 6.4% year on year for the second quarter of 2022 and in September, it was overtaken as the UK’s fourth largest grocer by Aldi as families searched for better value elsewhere.
