Sainsbury’s spending £220m keeping prices low for customers in its current financial year

Sainsbury’s is spending £220 million keeping prices low for customers in its current financial year.

The supermarket has launched an ‘Aldi price-match’ campaign this month, which includes essentials such as mince and laundry gel, plus almost 60 of its baby products.

More than 550 products at Sainsbury’s are now as cheap as they are at the German budget chain. Sainsbury’s is also launching special extra low prices for Nectar card holders from Wednesday.

These include a 350g pack of Cathedral City Mature Cheddar for £1.75 instead of £3.50 and a six-pack of Muller Corner Crunch for £2 – half the normal price.

On February 7, chief executive Simon Roberts will reveal to the City the next phase of his ‘Food First’ blueprint.

Over the past three years he has cut costs by £1.3 billion and ploughed £780 million of those savings into price reductions. Hundreds of millions more have gone into wage rises.

Roberts said: ‘Our customers can now buy a whole weekly shop for the same price as Aldi.’