Reuters: UK supermarket Asda launches fresh round of price cuts

Important information - investing for longer increases the likelihood of positive returns. Over a period of five years or more, investments usually give you a higher return compared to cash savings. But investments can go down as well as up in value, so you could get back less than you put in. This isn't personal advice. If you’re not sure what's right for you, ask for advice.

British supermarket Asda on Thursday followed rivals Ocado Retail and Sainsbury's in announcing a fresh round of price cuts, adding to the downward trajectory in UK food inflation.

This article is more than 2 years old

It was correct at the time of publishing. Our views and any references to tax, investment, and pension rules may have changed since then.

Grocery prices remain in the spotlight as Britons grapple with a cost-of-living crisis stretching into its second year.

Asda, Britain's third largest grocer, said it had lowered the prices of 425 branded and own-label products, such as nappies, bread, cereals and sausages, by an average of 11%.

It said the move was costing it 23 million pounds ($29 million).

Ocado Retail and Sainsbury's announced price cuts on Wednesday.

UK food price inflation reached its highest since 1977 in March at over 19%. This official measure slowed to 14.9% in July and, while industry data showed it at 12.7% in August, rising food prices remain a major strain on the finances of many households.

This article was from Reuters and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to legal@industrydive.com.