// Morrisons was found to have hiked prices by almost a fifth in the past year, more than any other major supermarket
// This comes as the grocer unveils a fresh round of price cuts for the second time in less than a month
Morrisons was found to have hiked prices more than all other major supermarkets last year as it today unveiled its second round of price cuts in less than a month.
The Grocer reported that Morrisons prices rose by almost a fifth in the past year, double the rise at Sainsbury’s, with the cost of a shopping basket up 18% year on year.
However, the supermarket chain said today that it would reduce prices on 64 items, including own-brand fresh produce and cupboard essentials, which it said will be reduced by an average of almost a fifth.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Morrisons said it had invested £148m over the last six months into cutting prices of popular and essential items – with 1,000 products reduced in price in January alone.
Chief executive David Potts said: “We are just seven weeks into 2023 and already this is our fifth significant price activity of the year.
“These latest price cuts follow hard on the heels of two notable in store price cuts involving well over 1,000 products, and two strong fuel promotions, demonstrating our determination and commitment to make a positive difference to our customers’ pockets.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
2 Comments. Leave new
Morrison going down hill fast, too expensive.
I avoid Morrisons like the plague. We used to be regular shoppers at Morrisons.our weekly shop was done there.Last year we noticed their prices slowly creeping up. One item in particular did it for me. The humble tea bag, I could buy Yorkshire Tea in Aldi, and Home Bargains for£4.49. In robbing Morrisons the same tea bags at one stage went up to £7.50. Sometimes we will nip into Morrisons for a few bits as it is in walking distance, so make a beeline for the tea, just to look and call them names to my partner….for me there are” no reasons to shop at Morrisons ” to quote their advertising slogan.