Morrisons is today reported to be cutting prices on hundreds more products as it battles to tempt shoppers back through its doors after last year being eclipsed by Aldi.
The grocer is this week pushing through price cuts on 820 products on its shelves, taking the total number of products that it has reduced prices on this month to more than 1,000.
It said, on average, customers would be seeing savings of around 20% on those products - many of which are cupboard essentials, family meals and fresh produce. It is also cutting prices of branded items including Dettol and Warburton's.
The Telegraph says the move comes as the latest push by Morrisons to lure shoppers into its stores, after months of losing out to discounting rivals Aldi and Lidl, which have been major winners as cash-strapped shoppers hunt for a bargain.
Up until last September, Morrisons had held the title of the UK's fourth-largest grocer, but slipped into fifth position after being leapfrogged by Aldi - the fastest-growing supermarket in the UK.
Figures earlier this month from retail analysts at Kantar found that Aldi's sales had jumped 27% in the year to Christmas, whilst Lidl's grew 24%.
Sales down
Morrisons, meanwhile, proved one of the worst-performing grocers, with sales down 2.9% over the year, compared to 6% growth at Tesco and 6.2% at Sainsbury's.
However, there have been signs that Morrisons could be starting to turn a corner - through measures such as price cuts, with Kantar saying the grocer recorded its "best performance since June 2021" in December.
Analysts at the research firm said this stood the retailer in "good stead for a return to growth in the new year".
Morrisons has not, however, been alone in cutting prices in an attempt to lure shoppers through its doors - and in the run-up to Christmas, Sainsbury's, Aldi and Lidl were all racing to slash the prices of Christmas-dinner staples.
Sainsbury's and Tesco both run a price-matching programme where they offer a selection of items at the same price at Aldi.
FTSE 100
The UK's top share index, the FTSE 100, was up 11 points at 7,795 shortly after opening this morning, following yesterday's 14-point gain.
Brent crude futures dipped 0.37% to $87.86 a barrel.
Companies reporting today
- Trading update: Associated British Foods