Morrisons announces major change to its prices that will affect every shopper

dailyrecord.co.uk:

Morrisons has announced that it will be slashing the cost of hundreds of items in a bid to help shoppers keep their costs low during the cost of living crisis.

Since last year, the grocery chain has been investing in price cuts campaigns after it was overtaken by discount rival Aldi as the Uk's fourth largest supermarket.

The retailer has since announced hundreds of price reductions following its latest investment in pricing, reports The Liverpool Echo.

David Potts, chief executive of Morrisons, said: "In a very difficult period for consumers and businesses alike, we are continuing to do everything we can to keep prices down for customers and to support our colleagues."As a vertically integrated retailer, we felt the impacts of last year's racing inflation more immediately than our competitors and this did have an impact on our pricing position."However, since October we have executed a rolling programme of meaningful price cuts, price freezes and fuel promotions for our customers and our competitive position has considerably sharpened."It is the latest price initiative from the supermarket, which is owned by private equiry firm Clayton, Dubilier & Rice (CD&R), to help customers save money on their weekly shop.Morrisons also announced earlier this month that it had slashed the cost of 130 of its lowest priced items in its Savers range including fresh items, frozen favourites and household essentials.