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Britain's Sainsbury's Cuts Price Of Milk Again

By Donna Ahern
Britain's Sainsbury's Cuts Price Of Milk Again

British supermarket group Sainsbury's said on Thursday it was cutting the price of own-brand milk for the second time in three months, adding to a body of evidence that a surge in grocery inflation will moderate this year.

Sainsbury's, Britain's No. 2 grocer after market leader Tesco, said that from Saturday four pints of milk would cost 1.45 pounds ($1.83), down from 1.55 pounds, while two pints would cost 1.20 pounds, down from 1.25 pounds.

The move follows cuts on milk on Thursday by online supermarket Ocado.

Read More: Britain's Ocado Follows Rivals In Cutting Some Prices

Stubbornly high inflation has become a major political issue in Britain as it outstrips pay growth for almost all workers, while higher taxes and rising interest rates are also straining household budgets.

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UK food and drink inflation was running at 18.3% in May according to the most recent official data, and 14.6% in June according to the most recent industry data.

News by Reuters, edited by Donna Ahern, Checkout. For more retail news, click here. Click subscribe to sign up for the Checkout print edition.

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