Waitrose is cutting prices on hundreds of its own-brand products amid intense competition in the sector. As consumers battle record inflation, the upmarket grocer is investing £100 million reducing the prices of almost a third of its lowest-priced Essential Waitrose range by an average 14%.
Almost a quarter of the cuts, which come into effect from Wednesday, will be 20% or more. The announcement follows grocery price inflation hitting a record 16.7% in the four weeks to January 22 – the highest level since analysts Kantar started tracking the figure in 2008.
This means households are now facing an extra £788 on their annual shopping bills if they do not change their behaviour to cut costs. Kantar said competition in the British grocery sector “is as intense as it’s ever been” as retailers strive to retain shoppers.
