In Ireland last month, data revealed that inflation rates were running at a 15-year-high of 6.2%, placing intense pressure on the Irish government to introduce price dampening measures and apparently prompting a price war amongst the food stores which erupted this week.Maurice Pratt, Tesco Ireland Managing Director, commented: "The price cuts are in a series of reductions right across the economy which should result in a much needed turnaround in inflation rates.