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News > Supermarkets ramp up price-cut warfare
Published: 27/06/2008 | Categories: 'Food and Drink'
The UK's leading supermarket chains have started cutting prices in an attempt to keep customers as food prices rise.
Tesco, the biggest supermarket chain in the UK, will cut the prices of 3,000 items from Monday, adding to the 5,000 reductions it made earlier this week.
Meanwhile Asda, which is owned by American firm Wal-Mart, lowered the price of its top ten products, which it said would reduce the cost of a basket of shopping by more than half.
Andy Clarke, Asda's retail director, said: "It's going to be a tough year and the retailers that drive value hardest will win with customers."
Sainsbury's has jumped on the bandwagon, according to the BBC, reducing a number of its summer products, like strawberries.
Many budget supermarket chains are benefitting from the high-street slowdown.
Aldi saw sales jump by more than 20 per cent in the three months before June 15th.
Lidl was another to benefit from soaring food prices as its sales jumped by nearly 13 per cent in the same period.
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