Waitrose and Aldi announce a new round of price cuts
Waitrose and Aldi announce a new round of price cuts
Waitrose and Aldi have announced a new round of price cuts in the latest boost for struggling households.
Waitrose is cutting the price of a further 250 products by an average of 10 percent this week.
At the same time, discount supermarket Aldi reduces the cost of 55 pieces of fruit or vegetables by an average of 11 percent.
Grocery prices remain in the spotlight as families grapple with a cost-of-living crisis stretching into its second year.
British food price inflation reached the highest level since 1977 in March, at more than 19 percent.
Price cuts: Waitrose is cutting the price of a further 250 products by an average of 10%, while Aldi is cutting the cost of 55 pieces of fruit or vegetables by an average of 11%
This official measure slowed to 14.9 percent in July and although industry data showed it was at 11.5 percent in August, rising food prices continue to put major pressure on the finances of many households.
The recent downward move is being closely watched by consumers, politicians and the Bank of England, which is considering further rate hikes.
Waitrose, part of the employee-owned John Lewis Partnership, said the cuts, the third wave this year, would affect items such as pasta, whole chickens, sausages and potatoes.
Monthly industry data consistently shows Waitrose losing market share to rivals.
Data from industry publication The Grocer also regularly shows that it is the most expensive of the major supermarkets for a basket of goods.
Research shows that Aldi is the cheapest.