The price is delight

Every little helps as Tesco launches first salvo to help customers cut spending...

- FERGHAL BLANEY

COST OF LIVING SEES A PUSH FOR SAVINGS

TESCO has launched the first salvo in a groceries price war by slashing the prices of 700 staples on their shelves. 

Finance Minister Michael McGrath welcomed the move, while also warning Tesco’s competitors that he expects them to lower everyday prices substantially too.

Mr McGrath said: “We know that people are very price sensitive, they will shop around and they will vote with their feet and I would expect that other significant retail providers in the grocery space will respond.”

Opposition politicians called for supermarkets to go further as people are still being fleeced by high prices on the shelves.

Labour’s finance spokesman Ged Nash said: “The move to reduce prices today proves what we in Labour have been saying all along – that the supermarkets have been price gouging and taking excessive profits and there was room to reduce prices.”