Sainsbury’s has announced it will pump an additional £50m into its cost of living value plan by March 2023.
The supermarket said it has invested in a Christmas roast dinner at less than £4 a head, as part of a £15m investment plan to keep prices affordable on festive staples.
Low prices and new special offers on Christmas food and drink are now available at the supermarket’s stores.
Brits are anticipating their first Christmas free of Covid restrictions in three years, following the Covid-19 pandemic – but it comes against the backdrop of 41-year-high inflation.
Earlier this autumn, Sainsbury’s invested its highest ever September value level, spending £65m into the business to keep prices competitive for shoppers.
The new investment means that by March, the retailer will have pumped more than £550m in value. This represents its largest value investment into tackling price inflation over a two-year period.
It is also ten per cent more than an initial £500m target Sainsbury’s set out in May earlier this year.
“We really understand that millions of households are having to make really tough decisions this Christmas and our job is to do everything we can to help with the rising costs of living,” Simon Roberts, chief executive of Sainsbury’s said.
The supermarket boss said he was aware “everyone wants to enjoy a special Christmas meal together which is why we’re keeping inflation at bay.”
“Our entire team at Sainsbury’s are working together to offer the best value, innovative new products and leading customer service,” he added.