A UCC food economist says prices will fall across other grocery products in the coming weeks.
Retailers have been battling it out with each other, cutting the price of milk, bread and butter.
Despite the price reductions, the cost of these household staples are still substantially higher than they were in recent years.
Professor Thia Hennessy, chair of Agri-Food Economics at UCC, says retailers have more control over the price of their own branded products.
"We've seen that the first mover advantages have been the retailers that have reduced the cost of their own branded products, they have more control over the cost of these products.
"When it comes to branded products from major companies like Nestle and PepsiCo and these large global companies, it may take more time for the prices of those types of products to be reduced and passed on to consumers."
