Jun 19, 2023

Morrisons and M&S latest to cut price of basics

Morrisons and M&S have become the latest supermarkets to cut the price of basics as retailers face pressure to do more to tackle soaring living costs. The chains will cut the price of scores of goods including minced beef, tomatoes and Greek yoghurt. It follows similar cuts by Tesco, Sainsbury's and Aldi and comes as food price inflation is stubbornly high. Morrisons, the UK's fifth largest supermarket chain, said the latest round of price cuts was its sixth this year and the reductions would remain in place for eight weeks. Last week, the boss of Tesco said there were "Encouraging early signs" that price rises are easing as the retail giant reported higher sales.

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