Tesco cut the price on 18,000 items
August 17, 2008
Tesco have launched into a new supermarket price war by cutting the cost of 18,000 products in its biggest weekly promotion to date.
Britain’s largest retailer said it was putting on promotion a range of everyday goods from bread, sausages and pizza’s to back to school items and homewares.
Tesco said this latest promotion meant it had cut £620 million from prices since January.
Tesco’s commercial director, Richard Brasher said “Rising costs continue to hit customers had and they are looking to Tesco to help. Despite clear inflation in some food products, we have worked hard to cut prices week after week and negotiated some fantastic deals with our suppliers to bring shopping bills down.”
Britain’s second-biggest supermarket chain, Asda, is expected to launch aggressive counter promotion.
Soaring food prices have pushed the official inflation rate to a 16 year high from 3.8% to 4.4% in July. Huge increases in prices of meat products, milk, cheese and eggs have all contributed to a massive climb in the cost of living.
The typical family’s average grocery bill has risen by more than a quarter since last summer according to comparison site Mysupermarket.com.
However discount stores such as Aldi, Lidl and Netto have all seen an increase in sales.
See www.tesco.com for more information on Tesco and their services.
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