Morrisons is cutting the prices of bread and cheese by more than half, as it kicks off its fourth wave of price cuts since the start of the year.
From today, white, wholemeal and granary rolls will be 56% cheaper at the supermarket chain, meaning its rolls are now cheaper than packs sold at Aldi, Sainsbury’s and Tesco.
It comes as part of its new “deflation dividends”, in which Morrisons chief executive David Potts promised shoppers would see many more price drops over the coming months.
The move comes shortly after The Treasury blamed sky-high food prices for interest rates breaking a 15-year high, where it questioned supermarket bosses on what they were doing to bring it down.
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The cuts also saw coffee prices being brought down by 27% and prices for cornflakes by 46%.
David Potts said Morrisons was “on the front line of commodity prices” because, unlike other UK supermarkets, it owns a variety of food factories.
He said: “We’ll look to pass on any easing to our customers quickly. This week we’re launching our fourth wave of price cuts this year, including a number of products that we make or prepare ourselves.
“In particular bread rolls and cheese will be down very significantly in what we believe will be the first of many ‘deflation dividends’ for our customers.”
1 Comment. Leave new
It about time things are going down people can’t afford higher prices off food and other stuff in shops l don’t get much wages Everyone how works in shops get more wages which is wrong