Apr 12, 2023
Tesco cuts milk prices after wholesale costs fall
Tesco has cut the price of its milk for the first time since May 2020, in a possible sign that price rises for a weekly shop could be starting to ease. Jason Tarry, Tesco's UK and Ireland boss, said the supermarket's cuts to milk prices would "Not affect" the price it pays to its farmers. Laith Khalaf, head of investment analysis at AJ Bell, said while the cut in price was only to a single product, the decision by Tesco was "Some light at the end of the inflationary tunnel for consumers". Bigger supermarkets such as Tesco, Asda and Sainsbury's are having to constantly monitor their prices amid stiff competition from discounters Aldi and Lidl. As well as reducing milk prices, Tesco said it was "Locking in" prices on over 1,000 everyday products until 5 July, including Yorkshire Tea, chips, and Shredded Wheat.
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