“Tesco and Supermarkets Cut Butter Prices by 40c: Impact on Farmers and Consumers in Ireland”

Tesco has announced a price cut of its own brand butter by 40 cents from May 4th in an effort to tackle the current cost-of-living crisis. Tesco’s 454g butter will be priced at €2.99, down from €3.39, and similar reductions will apply to all other Tesco owned brand Irish creamery butter types. The reductions follow similar price cuts by several other retailers last week, including Aldi, Lidl and Supervalu, who reduced their prices of 2 litres milk by 10 cents. Responding to the price cut, Ged Nash, Labour’s spokesman for finance, public expenditure and reform urged the government to work with the Competition and Consumer Protection Commission to “stamp out ‘greedflation’” in order to alleviate the burden on ordinary punters across Ireland.