Asda has announced prices on hundreds of own branded goods will be cut as supermarkets continue to face pressure over stubborn food inflation.
Prices on some 226 of the big four supermarket’s products will be cut, including fruit, veg, meat, cupboard staples and ready meals.
“We know that families are continuing to feel the pinch financially,” the company said in a statement, “and are looking for help to make their grocery budget stretch further.
“Whenever there is an opportunity to help them make their money go further by lowering prices we will continue to do so.”
Asda has been among supermarkets to face pressure over sustained high grocery costs, with food and non-alcoholic beverage prices rising 17.4% in June, according to official statistics.
Traditional ‘big four’ retailers, namely Asda, Tesco PLC (LSE:TSCO), Wm Morrison Supermarkets and J Sainsbury PLC (LSE:SBRY) faced a grilling from ministers last month as a result.
Asda had argued that the sector was the “most competitive” it has ever been, echoing rivals’ comments that efforts were indeed being made to lower prices.
The UK’s competition regulator updated on a review of shop rates on Thursday meanwhile, accusing retailers of over-complicating unit prices by using different measurements for similar products.