Sainsbury’s cuts prices of own-label bread and butter
Sainsbury’s has cut the price of its own brand bread and butter, in what some are seeing as a sign that soaring food price inflation will start to come down in the coming months.
The UK’s second-largest supermarket chain said it had lowered the price of its soft white medium, wholemeal medium, wholemeal thick and toastie white loaves of bread to 75p, which is a reduction of 11%.
The retailer said on Tuesday it had also reduced the price of its salted and unsalted butter to £1.89 for 250g, a 5% decrease.
The lower prices were available to customers on the Sainsbury’s website from Tuesday morning.
“Whenever we are paying less for the products we buy from our suppliers, we will pass those savings on to customers,” said the Sainsbury’s food commercial director, Rhian Bartlett.
“As we see the commodity prices starting to fall for wheat and butter, we’re able to lower our prices on two of the products people buy most often, bread and butter.”
Sainsbury’s said the price reductions would not affect the amount of money it pays farmers for their produce.
Food and drink inflation reached 19.1% in the UK in March, according to official figures, showing the cost of groceries had soared far above the headline rate of 10.1% over the past year for the increase in the cost of an average basket of goods and services.
This marked the fastest annual increase in food and drink prices since 1977, as the surging cost of basic essentials has added to the pressure on consumers from rocketing energy bills amid a cost of living crisis.
Surging energy costs and supply chain disruption unleashed by Russia’s invasion of Ukraine in February 2022 have been described as the main reasons for higher food and drink prices, along with rising labour costs, the impact
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