In a further sign that the surge in food inflation is set to abate, Asda has announced that it is freezing the prices of over 500 branded and own-label products.
The price lock, which runs until the end of August, includes everyday essentials such as cereals, pasta and tea, as well as summer lines such as salads, burgers and ice cream.
The move follows Waitrose’s announcement yesterday that it was reducing the price of more than 200 products as part of a £100m investment announced earlier this year to improve its competitiveness.
In recent weeks, other leading supermarkets in the UK have been cutting the price of everyday items such as milk, bread, sunflower oil, and pasta to reflect falling commodity costs.
Kris Comerford, Asda’s Chief Commercial Officer, commented: “We’re always looking at ways we can support our customers and communities throughout the year, which is why we’re locking the prices of hundreds of products until the end of August.
“We know that household budgets are tight at the moment, so we want to be able to offer the best value and give customers the confidence they can shop the products they love throughout summer.”
