// Tesco has extended its price lock on over 1,000 everyday products, as it looks to help shoppers save money amid the cost-of-living crisis
// The Big 4 grocer has also dropped milk prices for the first time since May 2020 across its stores and online
Tesco has extended its price lock on over 1,000 everyday products until 5 July as families across the UK keep a close eye on their household budgets amid the cost-of-living crisis.
In a further move, the Big 4 grocer has also dropped milk prices for the first time since May 2020 across its stores and online, as it continues its commitment to providing great value.
Its most popular milk product, the four-pint variety, will drop in price from £1.65 to £1.55 from today as it also lowers the price of a pint of milk from 95p to 90p, and two pints from £1.30 to £1.25.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Tesco UK chief executive Jason Tarry 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.”
As part of its investment, the grocer is also renewing its commitment to its nearly 500 British dairy farmers who will continue to be paid a price that reflects the cost of production, as the price Tesco pays farmers for their milk is set independently from prices in stores.
“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,” added Tarry.
“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.”
This week, M&S also revealed it would be extending its price lock promise on over 100 customer favourites until the summer.
The new round will feature a “refreshed line-up” of products replacing its existing offer which came to an end over the Easter weekend.
Click here to sign up to Retail Gazette‘s free daily email newsletter
