The supermarket says it is passing on savings to customers after seeing its own costs fall for milk.
Tesco has cut the price of its milk for the first time since May 2020, in a possible sign that price rises for a weekly shop could be starting to ease.
The price of a weekly shop for households has been rising in recent months and latest official figures show that food inflation in particular was up by 18.2% in the year to February - the highest since 1978. "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," he said.Laith Khalaf, head of investment analysis at AJ Bell, said while the cut in price was only to a single product, the decision by Tesco was "some light at the end of the inflationary tunnel for consumers".
Bigger supermarkets such as Tesco, Asda and Sainsbury's are having to constantly monitor their prices amid stiff competition from discounters Aldi and Lidl.
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