UK-based supermarket chain Sainsbury's has confirmed that it will invest £15m ($19.09m) to cut down the prices of household staples and help customers manage their budgets.

The household staples, including pasta, rice and whole chicken breast fillets, will remain at their 'best values' prices across all stores.

The retailer claimed that the new price cuts will make it the only supermarket chain to provide Freefrom pasta and standard pasta at the same prices.

As part of the new price reductions, for a time, all of the supermarket's 'happier and healthier' whole chicken breast fillets will be price-matched with discount supermarket chain Aldi.

This reduction builds on the retailer's commitment in March 2023 to ensure that all 'by Sainsbury's' chickens have an additional 20% space compared to the industry standards.

The latest price cut announcement comes as part of the retailer's commitment to maintaining low prices for various high-volume products, which directly affect the customers.

The company reiterated that it would continue to reduce the prices of some essential products throughout this summer.

Sainsbury's food commercial director Rhian Bartlett said: "As the cost-of-living challenges continue, we remain relentlessly focused on lowering prices on the essential products that make the biggest difference to our customers."

"In the last two years, we've invested £560m in keeping prices low and more recently, we have reduced the price of high-volume essentials, including bread and butter, milk, tuna and toilet roll.

"These latest price cuts will help reassure customers that we will continue to pass on savings as soon as we see the wholesale price of food fall. Customers will find great deals when they shop with us and do not need to go anywhere else to get the best prices on their everyday food essentials."

The retailer assured that the latest price cuts will not affect farmers, as they will continue to receive the same pay.