Supermarket targets popular products to support struggling families
- Asda invests £23m in lowering prices of 425 products
- Average price reduction of 11% on popular items like nappies, milk, bread, and more
- Follows a £13m investment last month on 200 own-label products with 9% reduction
- Family budgets under pressure due to cost-of-living crisis
- Disposable incomes down over £100 per month compared to July 2021
Asda has announced a £23 million investment in lowering the prices of 425 branded and own-label products, including nappies, infant follow-on milk, bread, cheese, cereals, pasta, fish fingers, and chicken breasts. This follows a previous £13 million investment last month on over 200 own-label products with an average price reduction of 9%. The supermarket aims to support customers facing rising living costs as their income tracker shows family budgets are still under pressure, with disposable incomes down by over £100 per month compared to July 2021. Asda’s Chief Commercial Officer Kris Comerford stated that they will continue working closely with suppliers to pass on commodity price savings.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Asda’s recent price cuts on various products, cites a source (Asda’s chief commercial officer), and discusses the ongoing impact of the cost-of-living crisis on family budgets. It does not contain any irrelevant or misleading information, sensationalism, redundancy, opinion masquerading as fact, bias, invalid arguments, logical errors, inconsistencies, or fallacies.
Noise Level: 3
Noise Justification: The article provides relevant information about Asda’s efforts to support families affected by the cost of living crisis by cutting prices on certain products and highlights the ongoing struggle for many households due to rising costs. It includes quotes from a company executive and references data from the supermarket’s income tracker. However, it does not delve into broader economic trends or explore the consequences of these decisions beyond Asda’s actions.
Financial Relevance: Yes
Financial Markets Impacted: Asda’s price cuts impact the company’s financial performance and may affect competitors in the supermarket industry.
Financial Rating Justification: The article discusses Asda’s investment in lowering prices for various products to support customers facing cost of living crisis, which is a financial topic. Additionally, it mentions the impact on the supermarket industry as a whole.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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