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Morrisons has cut prices across 130 of its Savers range products, in the latest attempt by the retailer to become more competitive with its supermarket rivals and the discounters.

It said the £16m investment would help families struggling with their budgets, with the cost of living crisis set to dominate the start of the new year as it did 2022.

Over 50% of Morrisons’ 263 Savers products have been cut in price, including bacon, cooked chicken, cheese, fruit & veg and potatoes.

Frozen ready meals, fish fingers and prawns have been made cheaper, along with cupboard items such as beans, chopped tomatoes and tuna chunks, with household essentials such as laundry powder, washing-up liquid and toothpaste also cut.

It is the latest in a series of price cuts by Morrisons.

Last April it launched what it called “one of the biggest price cuts in recent years” with the prices of more than 500 products reduced, as well as a raft of multi-save offers and a new price comparison mechanic urging customers to switch to own label from brands.

In September, 150 staple products were reduced further with an additional 50 Christmas products reduced in December.

The retailer is also expected to ramp up the use of loyalty card-only discounts this year as it tries to replicate the success of Tesco.

It is launching a major media campaign to advertise the latest cuts, which will also be highlighted on its ‘More Ways to Save’ section on the supermarket’s website.

“Our Savers range offers customers great value on the products they buy every day,” said Morrisons CEO David Potts.

“We want to do all we can to help when it comes to the cost of grocery shopping and by investing in the range and cutting the prices further, our customers will see a noticeable impact on their budgets at a time when they really need it.”

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