Morrisons is slashing prices on its bakery, cakes and desserts by an average of 18% as part of the retailer’s biggest price crunches on 1,045 products.
It is believed the move, effective from today, is a bid to compete with discounters Aldi and Lidl, as well as inspire confidence among its consumers post-Brexit
And there are concerns that this will prompt other big four supermarkets – Asda, Sainsbury’s and Tesco – to follow suit.
There are nearly 60 bakery items featured in the price crunch, including M Part-Baked White Rolls, reduced from 62p to 54p; Cadbury Choc Mini Rolls, reduced from £2.85 to £1,47; and Morrisons Flapjack Cookies 200g, down from £1.58 to £1.
Asked whether consumer cost savings would be filtered back down the supply line, a spokesperson for Morrisons told British Baker: "This is largely our own planned investment."
Andy Atkinson, Morrisons’ customer and marketing director, said: “We are constantly listening to our customers and know they are concerned about whether food prices will go up following the Brexit vote, especially on imports.
“Morrisons is unique as a food-maker and shopkeeper, and unlike the rest of the industry manufactures food, both in our own food processing plants and our 500 stores.
“We are British farming’s biggest supermarket customer, which means we can better control our prices, and this latest round of crunches demonstrates our commitment to offering the best possible value to our customers this summer.”
Morrisons’ £1.50 pie was recently voted best in the UK in the SuperMeat & Fish Awards.