Sainsbury’s has announced that it will cut prices on more than 40 own brand products, including cheese, yoghurt and cream to help customers budget during the cost-of-living crisis.

The move comes weeks after Sainsbury’s, Tesco, Lidl, and Aldi lowered prices of own-brand bread and butter, as the rate of grocery inflation remained at record highs.

The supermarket said that customers would be able to save up to 60 per cent on a range of items, revealing plans to add popular dairy products like Lurpak and Philadelphia to its Nectar Prices campaign for the first time.

Nectar Prices is a recently launched initiative which the company says provides "big savings" on a range of products when shopping in Sainsbury's standard supermarkets or online.

The decision to reduce prices comes after research by Which? found that supermarket own brand prices have increased by almost 21 per cent over the past 12 months.

The grocery retailer explained that over the past two years it has managed to achieve £900 million in cost savings which has allowed it to invest £560 million in reducing prices for customers.

It claims that it has consistently passed on less price inflation to customers than its competitors, most recently with bread, butter and tuna.

Sainsbury's said that the lower prices would not impact how much it pays its farmers.

“Whenever we are paying less for the products we buy from our suppliers, we will pass those savings on to customers,” said Rhian Barlett, food commercial director, Sainsbury’s. “As we see the commodity prices starting to fall for milk, we have lowered the price of over 40 own brand products in supermarkets.”

Sainsbury's also said that it had "doubled down" on its Aldi Price Match campaign, which aims to offer cheaper prices for the most popular fresh produce like bread, eggs and vegetables.

The company last week announced that it has combined its own label value ranges into one brand, Stamford Street, to "help customers more easily find everyday staples at budget-friendly prices". The range includes upwards of 200 items, 10 per cent of which are new.

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