Tesco lowers prices on over 700 products
A fresh supermarket price-war is underway as Tesco has announced it has lowered some of its prices.
The supermarket has cut the cost of over 700 products by around 10%.
The Irish Independent reports other supermarkets are now following suit and reviewing their prices.
Business Editor Joe Lynam says it comes as grocery costs reach record levels of inflation.
“Tesco are slashing a lot of branded products, for example Flahvan’s Progress Oatlets, their balsamic vinegar is going from €5.50 to €3.32, their Thai Green Curry paste is going down as well.
“It comes as Kantar, the price research company, said that prices rose by 16.5% in 12 weeks to May 14th, compared to the same period last year.”