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Asda announces large scale price reductions

With Tesco taking the lead over the last few weeks regarding competition in the UK supermarket sector, it was the turn of arch rival Asda to grab the headlines today. Asda has confirmed it will be cutting the price of 3,600 items by an average of 13% which is, according to the company, the largest reduction in supermarket prices for over a decade. So what does this mean for UK consumers?

There is no doubt that UK consumers have benefited in many areas due to the intense competition between the likes of Tesco, Asda, Morrisons and Sainsburys. The recent announcement of price cuts totalling over £280 million by Tesco seems to have been the catalyst for the latest bout of competition in the sector with Morrisons and Sainsburys set to join the fray in the days and weeks ahead. However, there have been allegations that some prices have been increased before the "reductions" therefore leaving many consumers confused and bewildered.

Unfortunately, many suppliers to the UK supermarket sector are certain to feel the pinch in the weeks and months ahead because these price reductions in supermarket stores are often part funded by suppliers. When you consider the likes of Tesco, Sainsburys, Asda and Morrisons push massive business the way of their suppliers, many apparently feel obliged to reduce their prices when asked to do so.

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