UK retail giant Tesco has said it will cut the price of 18,000 products this week.
Go deeper with GlobalData
The company said that the move is designed to help “hard-up” consumers make ends meet and comes in the midst of a grocery price war in the UK.
On top of the price cuts Tesco is giving customers GBP100m (US$186.2m) worth of Clubcard vouchers over the next week.
Products on offer will include half-price peaches (GBP1.59 per punnet), sweetcorn (GBP0.99p per twinpack) and GBP0.50p for 500g baby new potatoes.
Organic produce will also be reduced by up to 25%, including carrots at GBP1.48 for 1.25kg and broccoli at GBP2.79 per kilo.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTesco commercial director, Richard Brasher, emphasised the importance of price to consumers in the current economic climate.
“Rising costs continue to hit customers hard and they are looking to Tesco to help,” he said. “Despite clear inflation in some food products we have worked hard to cut our prices week after week and negotiated some fantastic deals with our suppliers to bring shopping bills down.’
The supermarket price war between Tesco and rival Asda has certainly intensified as Asda yesterday announced it is cutting the cost of its milk to GBP0.50 for two pints this weekend.
A spokesperson for Tesco told just-food: “We are always looking to do the best for our customers. These are just the latest price cuts for Tesco.”
