Whole Foods is trying to shed its “whole paycheck” moniker.

In an effort to attract new shoppers, Whole Foods Market — which was bought by Amazon nearly two years ago — is slashing its prices by about 20 percent on hundreds of items starting Wednesday, the grocer announced.

This is the third round of price cuts by the organic grocer since Amazon acquired it for $13.7 billion in 2017 — leading to questions about whether the latest series of cuts will last.

“Over time Whole Foods’ prices have slowly crept back up,” Edward Jones analyst Brian Yarbrough told The Post. “Most of their prices are 30 percent to 40 percent more than their competitors anyway, so a 20 percent cut” won’t be enough to lure budget-conscious shoppers, Yarbrough added.

Whole Foods’ ”whole paycheck” nickname refers jokingly to the amount of one’s paycheck that gets spent at the high-end food seller, known for its high-quality organic goods and fresh baked breads made from quinoa and flaxseeds.

Most of the cost cutting will be in the produce category, including mangoes for $1 each and a bunch of rainbow chard for $1.99 each.

Amazon Prime members will get even deeper discounts — in addition to the 10 percent discount they already receive “off hundreds of sale items.”

Examples of the new prices for Prime members include a $2 discount on a pound of asparagus, which will cost $2.99; a 33 percent discount on spiral sliced ham that costs $3.99 a pound, and $1.50 off a pound each of “Sumo” oranges, the company said.

The first round of price cuts occurred just days after the mega merger closed on Aug. 24, 2017, when Amazon lowered prices on a select group of items, including avocados, bananas, farmed salmon, brown eggs and other staples.

Analysts like Gordon Haskett’s Chuck Grom began to track Whole Foods’ prices shortly thereafter and found that the reductions were more illusion than reality, he told The Post.

This time around could be different, however, Grom said, noting that prices on hundreds of items have been slashed, making the latest cuts more “material” than in the past.