Tesco has announced a new price lock on more than 1,000 products until Easter, in a move it said would help shoppers tackle the impact of inflation on household budgets.
The move, which covers leading brands as well as own-label products, will run until 10 April. Tesco said it would help families to manage their shopping budgets, as they faced record inflation figures.
Brands involved include Heinz, Birds Eye, and Kellogg’s, with many own-label food and non-food products also price capped.
The initiative by the UK’s biggest supermarket comes as UK food price rises soared to a record rate in December, with industry bosses warning high inflation would continue in 2023 amid the fallout from surging energy bills.
Annual food inflation hit 13.3% in December, up from 12.4% in November, according to the latest figures from the BRC and Nielsen, the highest monthly rate since it began collecting data in 2015.
Tesco’s Price Lock echoes a similar initiative by the retailer that ran from October until the start of the new year.
Supermarkets have come under increasing pressure to help shoppers cope with the crisis.
Yesterday, Morrisons cut prices across 130 of its Savers range products, in the latest attempt by the retailer to become more competitive with its supermarket rivals and the discounters.
It said the £16m investment would help families struggling with their budgets.
“As we start the new year, we know times are tough for many of our customers right now, said Tesco UK CEO Jason Tarry.
“We hope this extended price lock commitment gives our customers the certainty of knowing that over a thousand household favourites and own-brand essentials will stay at the same low price for months to come – helping them budget when they need it most.”
No comments yet