German discounter Aldi has released new price reductions in response to moves from its competitor Morrisons.

The supermarket is known for maintaining a ‘price advantage of up to 38%’ against Morrisons who reduced its own prices as part of its Morrisons Price Crunch Initiative.

CEO Matthew Barnes at Aldi, said: “Our competitors continue to claim that they are closing the price gap. We think it is important to make it clear to shoppers that any challenge to our price leadership position will not succeed.”

He added: “While other retailers talk up price cuts and infuriate shoppers with misleading price-match schemes, we keep it simple with a consistent promise: whenever you visit Aldi, you’re paying the lowest prices in Britain.”
Figures show that in the 12 weeks to 3rd January 2016, Aldi showed a 38% gain over Morrisons, 39% against Tesco, 33% against Asda and 84% against Waitrose.

Future plans for Aldi include plans to open 80 new stores in 2016 around Britain which will take its total number of stores to more than 700.