Supermarket Asda, owned by Blackburn's billionaire Issa brothers, is investing £23 million to lower prices on hundreds of products and help struggling shoppers.

The chain has announced price cuts on 425 branded and own-label products as part of its continued support for families hit by the cost of living crisis.

The investment will lower prices by an average of 11 per cent on some of the most popular products bought by customers each week, including nappies, infant follow-on milk, bread, cheese, cereals, pasta, fish fingers, sausages and chicken breasts.

These reductions follow a £13m investment last month to cut prices on more than 200 own-label products by an average of nine per cent.

Mohsin and Zuber Issa have owned Asda since 2020, when their EG Group bought the supermarket giant.

Asda is stepping up its support for customers as its latest 'Income Tracker' shows that family budgets remain under pressure from rising living costs.

Despite the CPI inflation rate easing last month, this doesn't mean food prices are coming down, just that they are getting more expensive more slowly.

Family disposable incomes also remain much lower than before the cost-of-living crisis – down by more than £100 per month for the average household compared to July 2021.

Kris Comerford, Asda’s chief commercial officer, said: “While the headline inflation rate may have eased slightly last month, our own data tells us that many customers are continuing to struggle with rising living costs.

"We have targeted this latest price investment on the products that our customers buy week-in and week-out, to help their shopping budgets stretch further.

"We’re also continuing to work closely with our suppliers and whenever there is an opportunity to pass on commodity price savings to customers we will do so.”

The price reductions are effective from August 24.

The supermarket is also supporting families during the school holidays by extending its hugely popular ‘Kids Eat for £1’ café meal offer for the rest of this year.

Since launching this initiative in July 2022, Asda has served two million meals from its cafes and invested £1.3m to keep the meal prices pegged at £1.