Tesco Flags Deflation After Latest Round Of Price Reductions

Namnews, 16th May 2023

Tesco has joined Morrisons in suggesting food inflation is set to abate and even reverse in the coming months.

After yesterday announcing a fourth wave of price cuts since the start of the year, Morrisons’ Chief Executive David Potts promised that shoppers would see many “deflation dividends” over the coming months.

Tesco revealed its latest round of price cuts today, with reductions on 30 products, including own-label pasta and sunflower oil.

This follows a number of supermarkets dropping the price of some lines of bread and butter last week in response to falling commodity prices.

Tesco’s Chief Product Officer Ashwin Prasad commented: “As we see deflation coming through on key cupboard essentials such as pasta and cooking oil, we’re pleased to pass on these savings to customers.

“We hope that by reducing prices on these 30 products, which are bought week-in, week-out, we can help customers spend less.”