Premier Foods, the company behind brands such as Mr Kipling, Bisto and Angel Delight, is planning to cut prices on more of its products. It plans to extend price cuts seen at the end of last year to ranges such as Mr Kipling Bakewell slices and Loyd Grossman cooking sauces. Recent data suggests that food prices are rising less quickly, offering some respite to squeezed household finances. However, Premier continued to increase prices of own-brand products. Many shoppers have switched to cheaper supermarket own-brand goods in the face of surging food prices over the past year. Premier supplies both own-brand products for supermarkets and the food ingredients used to make them. Premier Foods started lowering prices of major branded products, such as Batchelors Super Noodles and some of the Mr Kipling slices range, in the final three months of 2023. The group said the discounts helped it to report strong trading over Christmas, with group sales up 14.4% from the year before. Suppliers and retailers have been under the spotlight recently amid concerns that savings are not being passed on quickly enough down the supply chain to shoppers.
