Iceland to slash the prices on 500 essential items

Iceland is the latest supermarket to announce price cuts following on from the likes of Aldi, Tesco and Lidl, who have also announced similar reductions in recent months.

The supermarket chain will cut prices on products from fish fingers to coffee and everything in between.

Iceland Foods executive chairman Richard Walker said: “Families are struggling more than ever as the cost-of-living crisis worsens.

5 ways to save on your weekly food shop

“That’s why we’ve invested millions – and will continue to do so – to keep prices low across key weekly shop items.

“We know we have a responsibility as a business to support our customers in any way we can and offer great value when people need it most.”

Supermarkets are under increasing pressure to hand down savings they are seeing on wholesale items to shoppers, who have faced punishing food price inflation in recent months.

Food inflation dropped for a second consecutive month in June to 14.6%, a relatively significant drop from May’s 15.4% according to the BRC-NielsenIQ Shop Price Index.

Fresh food inflation saw a significant slowing from May’s 17.2% to 15.7% as retailers dropped the prices of staples including milk, cheese and eggs.

What Iceland products will receive a price cut?

Iceland is set to slash prices on 500 grocery essentials. 

Iceland's price cuts follows on from similar reductions at fellow supermarkets like Aldi and Tesco. (Image: PA)

Products that will see a price cut will include:

• Youngs Fish Fingers (15-pack) - £2 down from £3.50
• Nescafe Coffee (200g) - £4.50 down from £6.50
• Anchor Spreadable Butter (400g) - £2.50 down from £3.50 and
• Cans of Heinz spaghetti in tomato sauce (x4) - £3.50 down from £4

There will also be price cuts on a third of the multibuy deals range.

For all the price changes visit the Iceland website.