Wesfarmers’ (ASX: WES) Coles today cut the price of breakfast cereals, including some of Australia’s favourite brands. This comes after the supermarket giant sparked the discounting war last month by dropping prices for home brand milk to $1 a litre, and supermarkets, including Woolworths, matched it.

Cereals including Weet-Bix, Uncle Toby’s, and Coles Brand are down in price by as much as 21 per cent, making it easier for customers to enjoy the most important meal of the day. From $5.72 to $5.00, the 1.3kg Sanitarium Weet-Bix was discounted 13 per cent. Uncle Toby’s Plus Cereal in 420-460g is now $4.00, saving $0.48 or 11 per cent. An 800g pack of Coles Brand Cornflakes was $3.79, now $3.00 saving 21 per cent.

Coles Merchandise Director John Durkan said “Breakfast is said to be the most important meal of the day and for most of us that means a bowl of cereal before we head out of the door in the morning. By reducing the price of some of Australia‟s favourite cereals Coles is making it more affordable for everybody to enjoy a balanced breakfast.

“It's all part of our 'Down Down' campaign to reduce the price of the products customers buy most. With more than 5000 prices cut over the last 12 months Coles has already saved Australians more than $1billion off the cost of groceries.”

Price cuts effective in store from Tuesday 8th March 2011. Prices quoted above apply to all States.

Other price cuts announced today are:
Coles Cornflakes 500g: was $2.50, now $2.00 saving $0.50 (20 per cent)
Coles Right Start 560g: was $4.99, now $4.50 saving $0.49 (10 per cent)
Coles Right Start Fibre & Fruit 600g: was $4.99, now $4.00 saving $0.99 (20 per cent)
Uncle Toby‟s Vita Brits 1kg: was $4.99, now $4.50 saving $0.49 (10 per cent)
Uncle Toby‟s Vita Brits 375g: was $2.69, now $2.50 saving $0.19 (7 per cent)*
Uncle Toby‟s Oat Brits 1kg: was $5.99, now $5.50 saving $0.49 (8 per cent)

*Except for SA where product was and remains $2.49.