Tesco and SuperValu have followed rival supermarket Lidl in announcing surprise price cuts to milk.
Lidl announced on Friday that it is cutting the price of a two-litre carton by 10c - from €2.29 to €2.19 - coming into effect from today.
The budget supermarket became the first Irish retailer to reduce the price of milk after many British supermarkets also slashed the price of the product earlier this month.
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Milk has seen unprecedented fluctuation in price over the past year due to the increased cost of production.
In February 2022, a two-litre carton of milk in Lidl cost €1.69 but that increased by 60c over a year to €2.29.
Following Lidl’s announcement, Tesco Ireland confirmed it is also reducing the price of its two-litre fresh milk by 10c from €2.29 to €2.19 from Sunday. A spokesperson said corresponding reductions will apply to all other milk formats.
SuperValu then confirmed the same news, saying it is reducing the price of its own-brand fresh and low fat two-litre cartons by 10c from €2.29 to €2.19 from today.
The 'milk price war' has sparked a wave of sarcastic comments on social media.
In a post on Reddit Ireland, one person asked: “10c off the price of milk lads. How are ye spending the windfall?”
One person responded: “I’m bathing in it now, guilt-free.”
Another joked: “Just booked my round the world cruise!!”
A third quipped: “I drink 2 litres a day. I’ll save a fortune now.”
Another sarcastically answered: “More milk. The more I buy, the more I save.”
Meanwhile Labour finance and enterprise spokesperson Ged Nash welcomed the news but described the supermarket milk price reduction as "a tacit acceptance of gouging".
He also reiterated his call to the Government to examine price caps across essential food items.
Deputy Nash said: “We see today a race for good publicity between Irish supermarkets as they announce price reductions for milk. This is good news for shoppers, and it essentially confirms what I’ve been saying for weeks - price gouging is endemic throughout the grocery sector in Ireland.
“Government must now commit to working with the CCPC to stamp out this ‘greedflation’ once and for all. These big and brave supermarkets must also commit to meaningful price reductions across the range of other products that they are using to cream it in.
“Butter is up 21% year on year, eggs are up 20%, vegetables up over 10% and it’s having a huge impact on working families nationwide. We need to see transparency in pricing and an acknowledgement from the Government that something has to give.
“Exceptional times demand exceptional measures to protect the living standards of working people. A trip to the checkout is now as dreaded as a trip to the dentist.”
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