Supermarket to freeze prices of 500 products until August
- By Reuters -
- Jun 13, 2023
Asda, Britain’s third largest supermarket group, has frozen the prices of over 500 branded and own-brand products until the end of August, it said on Tuesday.
The retailer, owned by brothers Zuber and Mohsin Issa and private equity group TDR Capital, said the price lock includes cupboard essentials such as cereals, pasta and tea, as well as salads, burgers and ice cream.
Just yesterday, another British supermarket group Waitrose said it had reduced the price of more than 200 products as part of a 100 million pound ($126 million) plan announced earlier this year in the fight to retain customers struggling with high inflation.
Food prices are up more than 19% over the last year, outpacing the broader inflation rate and adding strain to household budgets being stretched by high energy bills and other price increases.
Waitrose, part of the employee-owned John Lewis Partnership, said products on which it had lowered prices included butter, tomato ketchup and golden caster sugar, as well as salads and ice cream, with half of the products now at least 10% cheaper.
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