Sainsbury's has announced it will cut down the price of a supermarket staple, supposedly following in Tesco's footsteps.
The supermarket giant announced that it will cut the price of milk by 5p a pint. It comes after Tesco announced it would cut the price of milk in its store by 10p.
The change was announced as Britain experiences its highest level of food inflation since 1978, with the latest figures revealing that food prices increased 18.2 per cent from last year. During this period, milk prices have risen by 43 per cent alongside many other household staples.
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A Sainsbury’s spokesperson said, “With costs going up, we are working hard to keep prices low, especially on the everyday essentials people buy the most. We have reduced the price of our own brand milk to just £1.55 for four pints, £1.25 for two pints and 90p for a pint.
"Our focus on value means that all our customers can be confident that they will receive great deals when they shop with us and do not need to go anywhere else to get the best prices on their weekly shop."
Sainsbury's new milk prices will include the following:
- Semi Skimmed milk 2.27L (4 pints): from £1.65 to £1.55
- Semi Skimmed milk 1.13L (2 pints): from £1.30 to £1.25
- Semi Skimmed milk 1 pint: from 95p to 90p
The supermarket giant confirmed that the price changes will not impact how it pays its farmers. It added that it works closely with its farmers to create a pricing model which is voted for by farmers themselves in order to protect them against price cuts in the market.
Earlier on Thursday Tesco announced it was reducting the price of milk - the first time its price has dropped since May 2020, just weeks after Covid took hold.
A four pint bottle has reduced from £1.65 to £1.55, two pints from £1.30 to £1.25 and a pint now 90p instead of 95p.
Tesco UK Chief Executive Jason Tarry said: “We know that customers are still having to budget carefully, so we’re pleased to be able to reduce prices where we can, and also give them a little extra help by locking the prices of more than a thousand everyday products.
"Milk is a key everyday staple for so many families. We’ve seen some cost price deflation for milk across the market in recent times, and we want to take this opportunity to pass that reduction on to customers.
"This will not affect the price we pay our farmers. Our Tesco Sustainable Dairy Group was set up to ensure that farmers across the UK get a fair, independently-set price for the milk they produce for us. Our model gives farmers security when the market price for milk falls below the cost of production and reflects our long-standing commitment to our farmers."
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