Tesco Ireland has announced from tomorrow an 800g white sliced pan will drop from 99c to 89c and corresponding reductions will apply to other Tesco own brand sliced pans.
It comes as leaders from all the main supermarkets have been invited to the Retail Forum where they will hear the Government urge them to do whatever is needed to cut prices.
Retailers say, however, that their costs are still high, price cuts will come where possible, and that fierce competition in the Irish grocery market will always lead to downward pressure on the cost of groceries.
Last week, a number of supermarkets announced a price reduction for some butter products.
Tesco cut the cost of its own brand butter by 40c per 454g pack (one pound), pricing it at €2.99 – down from €3.39.Aldi and Lidl both announced that they cut the cost of their own brand butter, dropping the retail prices of both their one pound of butter by 40c.
Other butter products were reduced in price accordingly.The retail price of SuperValu’s 454g own brand butter was also reduced by 40c.