Saturday, June 22, 2024

Asda invests £23m to lower prices on hundreds of products

Asda has announced price cuts on 425 branded and own-label products as part of its continued support for families impacted by the cost of living crisis.

The supermarket is investing £23m to lower prices by an average of 11% on some of the most popular products bought by customers each week, including nappies, infant follow on milk, bread, cheese, cereals, pasta, fish fingers, sausages and chicken breasts.

These reductions follow a £13m investment last month to cut prices on more than 200 own-label products by an average of 9%.

Asda is stepping up its support for customers as its latest Income Tracker shows that family budgets remain under pressure from rising living costs. Despite the CPI inflation rate easing last month, family disposable incomes remain much lower than before the cost-of-living crisis – down by over £100 per month for the average household compared to July 2021.

Asda Chief Commercial Officer Kris Comerford said: While the headline inflation rate may have eased slightly last month, our own data tells us that many customers are continuing to struggle with rising living costs. We have targeted this latest price investment on the products that our customers buy week-in and week-out, to help their shopping budgets stretch further. We’re also continuing to work closely with our suppliers and whenever there is an opportunity to pass on commodity price savings to customers we will do so.”

The price reductions are effective from 24 August in all stores that stock these products and online.

The supermarket is also supporting families during the school holidays by extending its hugely popular ‘Kids Eat for £1’ café meal offer for the rest of this year. Since launching this initiative in July 2022, Asda has served 2m meals from its cafes and invested £1.3m to keep the meal prices pegged at £1.

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