Waitrose has announced prices of some 200 own-brand items will be cut across its supermarkets.
Its Essential and Duchy Organic ranges will see reductions of up to 8%, the supermarket said, with dairy, fish, meat, ready meals and frozen products to be lowered even more.
“This £30 million investment in new lower prices demonstrates our continued commitment to offering our customers the best value for money without compromising our unique, high-quality food,” executive director James Bailey commented.
The news comes after ONS data on Tuesday morning that food prices fell for the first time in January since mid-2021.
Coupled with heavy discounting of furniture and household goods, the drop in food costs was welcomed by analysts, who said the weakening consumer goods prices were key in the UK’s road to base rate cuts.
Bailey added cuts would “make a real difference to [...] customers’ baskets,” with other incentives such as free coffee and money-off vouchers also being explored.
Waitrose said another round of price cuts would take place in the spring.