Tesco has launched the first salvo in what could lead to a price war among Irish supermarket by announcing price cuts across 5,000 items previously controlled by the Groceries Order.
Tesco says the cuts are the first stage of its plans to cut all 10,000 items previously controlled by the Order which was abolished earlier this year.
The chain promised that the price cuts which average out at about 4.7 per cent set to stay in place for "a number of months at least."
Tesco also maintains that no prices have been increased to compensate for these reductions.
Dermot Breen of Tesco Ireland said: "This price reduction programme is the most significant ever undertaken in the Irish supermarket industry. It means that the prices of 5,000 grocery products are now lower than six months ago, despite national inflation currently running at over 4 per cent."
Customers will be able to view a copy of all 5,000 price cuts at customer service desks in-store, or on the Tesco Ireland website at www.tesco.ie.
Each store will also be displaying posters listing a large number of the price cuts so customers can check for themselves.