Iceland announces it’s discounting baby formula to cut price of £7.95

Iceland has launched reduced cost baby formula in a bid to do more to help families through the cost of living crisis.

Iceland CEO Richard Walker is determined to bring down the cost of baby formula, and says ‘businesses need to step up and do more’.

The businessman has made it his mission after hearing heartbreaking tales from parents who have been struggling to feed their families amid spiralling costs.

Mr Walker, a dad-of-two, told Metro: “We’ve heard terrible stories of customers watering down feeds, skipping feeds or ignoring sell by dates, all of which is really bad for the baby. That prompted us to take action.”

Iceland slashed prices earlier this year, revealing three of its Aptamil formula milk products would sell at £11.20 – a move which led other supermarkets including Asda and Tesco to reduce their own prices. 

Now, Iceland has confirmed it is selling 800g of SMA’s Little Steps formula milk for £7.95 across its stores and online from Tuesday February 27th – £1.80 cheaper than its rivals.

Mr Walker insisted it’s not just a clever business move either, as he continued: “The price is a mind-blowing £7.95 which makes it the cheapest infant formula milk on the market. I think it will really really help our customers.

“We’re not making any profit out of this now. We’re passing on the savings which we’re managing to persuade the manufacturer to give straight on to our customers.”

The baby formula industry is currently under investigation after prices rose by an average of 25% in the past two years.

The Competition and Markets Authority (CMA) has said it is looking into whether companies have been exploiting parents for profit.

Iceland’s launch of lower priced baby formula has also gained the support of Mumsnet.

The eight-million strong parenting group have announced they are joining forces with Formula For Change – Metro’s campaign to lower baby formula prices.

Mr Walker has also signed the petition and is calling on parents to sign it and help push it over the line.

Politicians may soon be forced to address the scandal as the Formula for Change petition is almost at the 100,000 signatures mark – the crucial threshold needed for a parliamentary debate on the issue.

Mr Walker also told the publication: “Formula for Change is absolutely fantastic. The Prime Minister has said he is ‘sad’ families are watering down formula to try and make it last longer, but again these are just words.”