// Morrisons raised prices more than any other major grocer in the last year
// The grocer “rapidly” increased its prices in June
Morrisons hiked prices more than any other major grocer in the last year, resulting in a large number of customers switching to other supermarkets.
The grocer “rapidly” increased its prices in June, which meant it lost more shoppers than rivals last year, credit rating agency Moody’s said.
Morrisons was also the only major supermarket to raise prices quicker than the German discounters Lidl and Aldi, This is Money reported.
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The price rises meant Morrisons lost market share, leading to it being overtaken by Aldi as the UK’s fourth biggest grocer.
Moody’s findings raises concerns over the Bradford-based grocer since its £7 billion takeover by US private equity firm Clayton, Dubilier & Rice (CD&R) in 2021.
Morrisons now has 9.1% of the market, down from 10% before the deal but up from 9% a month ago.
Moreover, Moody’s warned that Lidl could also overtake Morrisons “in the next couple of years”.
