Woolworths reduces price of groceries

Groceries are set to become cheaper after supermarket giant Woolworths Ltd said it
had cut the price of many items.
Woolworths said 3,500 grocery products had their standard shelf price reduced over
the past few months and were now cheaper than they were a year ago.
"At a time when consumers are dealing with increased costs for utilities, health,
insurance and other essential services, Woolworths has committed to bringing
downward pressure on food prices, permanently," Woolworths said in a statement on
Thursday.
On Wednesday, Woolworths posted disappointing first half sales due to low price
rises and the waning of the federal government's fiscal stimulus packages.
Sales for its first half rose 4.2 per cent to $27.2 billion, but this was less than
half the 8.8 per cent growth recorded in previous corresponding period.