Asda and Morrisons slash prices as squeezed Brits grapple with cost of living

25 April 2022, 12:45

Asda and Morrisons have both pledged to cut prices as Brits grapple with the cost of living crisis.

With money in pockets not going as far as it used to, customers have been turning to discount competitors Aldi and Lidl.

But now Morrisons has said that more than 500 products including eggs, beef and nappies would see an average price cut of 13%.

Asda is cutting prices on more than 100 popular products, including tea bags, rice and cheddar cheese, for the year.

It has also announced its shop floor workers will get an hourly rate increase to £10.10 from July.

Asda said its products covered by the "dropped and locked" price pledge will see an average reduction of 12%, including a 25% drop in the price of a bag of Asda easy cook rice to 75p.

Mohsin Issa, co-owner of Asda, said: "We know that household budgets are being squeezed by an increasing cost of living and we are committed to doing everything we can to support our customers, colleagues and communities in these exceptionally tough times.

Read more: Inflation soars to highest level in 30 years as cost of living soars

"We're standing side by side with the families and communities who are juggling so many demands at the moment.

"We're taking unprecedented action to give families some additional stability and certainty in their weekly shopping by lowering and locking over 100 prices until the end of the year.

"We're also proud to be investing in increasing the pay for our hard-working store colleagues and continuing to support the communities we are part of."

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Morrisons chief David Potts said: "We know that our customers are under real financial pressure at the moment and we want to play our part in helping them when it comes to the cost of grocery shopping."

Inflation is at its worst rate for 30 years.

The Bank of England said in March it expected it to reach about 8% through spring, and maybe get even higher later in 2022.