Supermarket Lowers Prices on 232 Items to Support Struggling Households
- Asda invests £9m in cutting prices of over 200 products
- Average price reduction of 14% on popular items like bread, fruit, and meat
- Follows a £35m investment in July-August for 600+ products
- Total investment since summer: £44m
- 60% of households saw reduced disposable income in August compared to last year
- Asda’s third price drop campaign in four months
Asda has announced further price cuts on 232 branded and own-label products, investing £9m to lower prices by an average of 14% on popular items such as bread, fresh fruit, vegetables, and fresh meat. This follows a £35m investment in July-August for over 600 products, bringing the total spent on price cuts since summer to £44m. Asda’s Income Tracker reveals that more than 60% of households experienced decreased disposable income in August compared to last year despite a slowdown in inflation. Kris Comerford, Asda’s chief commercial officer, stated: ‘While the recent fall in inflation is positive, the average UK household is £80 per month worse off than two years ago. Our focus remains on lowering prices of core weekly shop items and working with suppliers to pass on commodity savings to customers.’
Factuality Level: 10
Factuality Justification: The article provides accurate information about Asda’s price cuts on various products, the amount invested in these reductions, and the reasoning behind them. It also includes a relevant statistic from Asda’s Income Tracker and a quote from their chief commercial officer. There is no sensationalism, redundancy, or personal perspective presented as fact.
Noise Level: 3
Noise Justification: The article provides relevant information about Asda’s efforts to support families affected by the cost of living crisis through price cuts on essential products. It also includes data from their Income Tracker and a quote from the chief commercial officer. However, it lacks in-depth analysis or exploration of broader economic trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Asda’s price cuts impact the company’s revenue and potentially competitors’ revenues in the supermarket industry.
Financial Rating Justification: The article discusses Asda’s investment in lowering prices for various products to support customers affected by the cost of living crisis, which is a financial topic. It also mentions the impact on the supermarket industry as a whole due to price changes.
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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