Tesco has dropped the price of milk for the first time in three years as the supermarket locked prices across thousands of everyday products.
It comes as the supermarket chain looks to extend its commitment to provide its shoppers with excellent value on their groceries in store and online.
The price cuts mean that four pints of milk has dropped from £1.65 to £1.55, two pints of milk from £1.30 to £1.25, while one pint has dropped from 95p to 90p. The cost has dropped for the first time since May 2020.
Tesco says the reason for the price cut on the fridge staple is due to the falling cost of buying in milk, so it has decided to pass the reduction onto customers.
In a further move, the UK's largest supermarket has confirmed that it is extending its price-lock promise on more than 1,000 staples to help households keep an eye on their budgets.
The price-lock commitment, which will run until July 5, will see everyday low prices on branded goods from Yorkshire Tea, McCain's, Cushelle, Kenco and Homepride.
Tesco's reduction in milk prices and price-lock commitment comes as households across the country are still feeling the crunch of the cost of living crisis.
Jason Tarry, Chief Executive at Tesco said: "We know that customers are still having to budget carefully, so we’re pleased to be able to reduce prices where we can, and also give them a little extra help by locking the prices of more than a thousand everyday products. Milk is a key everyday staple for so many families. We’ve seen some cost price deflation for milk across the market in recent times, and we want to take this opportunity to pass that reduction on to customers.
"This will not affect the price we pay our farmers. Our Tesco Sustainable Dairy Group was set up to ensure that farmers across the UK get a fair, independently-set price for the milk they produce for us. Our model gives farmers security when the market price for milk falls below the cost of production and reflects our long-standing commitment to our farmers.
"Whether you’re buying a branded favourite covered by our price lock, stocking the cupboards with essentials from Aldi Price Match, or treating yourself to an exclusive deal with Clubcard Prices – you can be confident of finding great value at Tesco."
Products price-locked by Low Everyday Prices include:
- Product Low Everyday Price
- Yorkshire Tea – 40 bags £1.50
- McCain Naked Oven Chips – straight, 900g £1.95
- Cushelle Toilet Tissue, white – 9 roll £5.60
- Oykos Strawberry Greek Style Yoghurt 4 x 110g £2
- Shredded Wheat 30 pack £3.20
- Kenco Smooth Instant Coffee 200g £6
- Tesco Quadruple Strength Orange Squash - No Added Sugar 1.5 Litre £1.80
- Hartley’s Strawberry Jelly 135g 95p
- Homepride Self-raising Flour 1kg £1.65
- Aquafresh Fresh & Minty toothpaste 75ml 80p
