Aldi aims to invest over £380m in price cuts in 2024

Aldi has pledged to cut more prices than ever before in 2024 despite already investing more than £125m to reduce prices on around 500 products since the start of the year.

In a bid to “never be beaten on price”, the group stated that it is planning to continue cutting prices across a wide range of products wherever possible throughout the rest of the year – beating the £380m invested in price cuts during 2023.

Last month, consumer group Which? named Aldi the Cheapest Supermarket for February, with a basket of goods costing over £20 less at Aldi than at the average traditional Big Four supermarket.

Aldi’s latest investment in price follows on from news last week that it will open 35 new stores across the UK this year as it looks to bring its low prices to even more shoppers.

Its continued growth means it is also creating 5,500 new jobs during 2024, while it spent an additional £1.3bn with British suppliers during 2023.

Giles Hurley, chief executive officer of Aldi UK and Ireland, said: “We know that shoppers remain under pressure from the cost of living, which is why we remain laser focused on offering the lowest possible prices.

“We are investing more than ever before in lowering prices, and we will continue to do whatever it takes to keep grocery prices as low as possible for the millions of customers that shop with us.”