1,000 prices set to be cut at Morrisons

IN an attempt to reassure consumers following the Brexit vote and win back customers from the discounters, Morrisons is cutting the prices of 1,045 products in store.

The supermarket is introducing the cuts today, with toiletries and seasonal produce being cut by up to 56%. 1kg of beef mince will now cost £3.00 down from £3.86 and the price of 750g of chicken thighs is being lowered from £2.25 to £1.57.

The referendum decision in June led to concerns that grocery prices would rise. With the value of the sterling dropping it was predicted that consumers would have to pay more for products and ingredients imported from overseas.

Bradford-based Morrisons, along with the other big four, have been fighting a long-term battle to prevent discounters Lidl and Aldi encroaching on their customer base.

Despite having its best month in terms of growth since January 2016, Morrisons sales fell by -1.8% and its market share dropped to 10.7%.

Andy Atkinson, Morrisons’ customer and marketing director, said: “We are constantly listening to our customers and know they are concerned about whether food prices will go up following the Brexit vote, especially on imports.

“Morrisons is unique as a food-maker and shopkeeper, and unlike the rest of the industry manufactures food, both in our own food processing plants and our 500 stores.

“We are British farming’s biggest supermarket customer, which means we can better control our prices, and this latest round of crunches demonstrates our commitment to offering the best possible value to our customers this summer.”