Supermarket giant Tesco has announced it will be freezing prices on more than 1,000 products until next year in a bid to help customers and staff cope with the cost-of-living crisis.
The company announced the second increase in pay for workers this year, raising the basic hourly rate of pay by 20p to £10.30
Household brands set to be included in the price lock are Heinz, Tilda, Robinsons and Nescafé.
Tesco UK CEO Jason Tarry said: “We know times are tough for many customers right now, particularly as we head into the winter months.
“We hope this extended price-lock commitment gives our customers the certainty of knowing that over a thousand household favourites will stay at the same great price for months to come – helping them budget when they need it most”
CEO Ken Murphy said: “Customers are seeking out the quality and value of our own-brand ranges as they work to make their money go further, whether they are switching from branded products, between categories or cutting back on eating out.
“As we look to the second half, cost inflation remains significant, and it is too early to predict how customers will adapt to ongoing changes in the market.
“Despite these uncertainties, our priorities are clear. We have the right long-term strategy and we will continue to balance the needs of all of our stakeholders.”
He concluded: “Most importantly, we will stay focused on delivering value for our customers and supporting them in every way we can.”
Yet the positive news for staff and customers was tempered by the supermarket giant revealing that profits for first half of the year fell by 10 per cent and its annual sales are expected to be towards the lower end of expectations.
Tesco’s 2023 price freeze on over one thousand products
Products included in Tesco’s price freeze can be found in their Low Everyday Prices range.
Top picks include:
Mcvities Digestive Twin Pack 2x400g – £2.30
Robinsons Orange Squash 1L – £1.75
Kronenbourg 1664 15x440ml – £10
Kellogg’s Coco Pops 720G – £3.50
Ginsters 4 Pack Cornish Pasties 720G – £4.00
Finish All In One Max Lemon 30 Dishwasher Tablets 480G – £5.00
Birds Eye 4 Breaded Cod Cakes 198G – £1.40
Simple Biodegradable Cleansing Wipes 25Pack – £1.80
Napolina Chopped Tomatoes 4x400G – £2.50
