Major Irish supermarkets including Tesco, Aldi, SuperValu and Lidl have announced a reduction in the price of milk in response to the rising cost of living crisis. Lidl became the first large supermarket to reduce the cost of milk, leading to other supermarkets following suit. The German discounter announced a cut of around 5% on many of its milk products. This step is expected to put significant pressure on other supermarkets to follow suit in the grocery market in Ireland. The Lidl price cut came after a reduction in the cost of milk production in recent weeks. The move will see significant savings passed on to shoppers, amounting to over €2.7 million. While prices have been increasing steadily over the last 18 months, the dairy section has been hit particularly hard. With fuel prices returning to 2021 levels and wholesale energy costs falling, supermarkets are now under pressure to pass on at least some of those savings to consumers.
