In a bid to soften rising prices for consumers, grocer Sainsbury’s has pledged an investment of £500 million. The investment will be made between now and March 23 to keep a lid on the cost of the core goods it stocks.
Statistics show that surging prices are putting the greatest squeeze on British household income since figures recorded in the 1950s, with the rise in energy bills following suit.
As a rule, supermarket groups tend to keep the prices down on items regarded as known-value products, which shoppers are familiar with, while pushing up the prices of other items. A recent statement made by Sainsbury’s regarding the investment commented:
“Our commitment to saving money and reinvesting where it can make the biggest difference to customers means we are now able to commit a total of over 500 million pounds to lower prices and help customers manage inflation.”
Consumers seeking financial advice in Chester, Birmingham and other major cities often find that having a diverse portfolio of investments can help them weather significant fluctuations in financial markets.
The £500 million being spent by Sainsbury’s includes investment made via price fixes and cuts made in the previous financial year, along with money to be committed in this current financial year, ending in March 2023.
The supermarket giant has stated that its investment is focused on products like meat, milk, fish, eggs, fish, vegetables, fruit and essential household items. The news follows a recent statement from Sainsbury’s and Tesco warning of lower profits in 2022.