The retail giant Tesco is all set to slash the prices of over 700 items in-store and online with an average price decrease of 10 per cent. This includes a wide range of Tesco’s own-brand products and brands – from grocery staples to household and health and beauty products.
The store is cutting prices in an effort to help with inflation and the cost-of-living problem.
Joe Manning, Tesco’s commercial director, said: “We’re working hard to invest in helping families by cutting prices on hundreds of products. Committing to discounts across a hugely diverse range of items, including grocery staples, household products, and family favourites, demonstrates our continued commitment to offering great value and means customers can expect to find savings in almost every aisle in-store or online.”
Finance Minister Michael McGrath described the price reduction as a “significant turning point” for Irish customers.
Mr McGrath predicts grocery prices will begin falling across the board after 18 months of soaring inflation.
“These reductions are very good news for consumers,” he told RTE Radio One, adding that everybody has seen the really significant spike in prices over the last 18 months.
Minister McGrath also expressed his belief that “it’s only a matter of time before other grocery providers respond.”
Tesco also provides an Aldi Price Match, which keeps prices for select goods the same as those of its low-cost rival. In addition, Tesco provides members with access to special Clubcard discounts, helping in reducing the impact of inflation at the checkout.