Tesco price cuts a 'significant turning point' for grocery costs: McGrath

FINANCE MINISTER MICHAEL McGrath has said that it’s “only a matter of time” before more grocery chains cut prices.

The move follows more than a year of continuous increases on everyday essentials that has strained household budgets. “We know that people are very price-sensitive, they will shop around and they will vote with their feet, and I would expect that other significant retail providers in the grocery space will respond but that’s a matter for themselves.McGrath will meet with retailers again in the coming weeks to discuss whether the government should interfere with grocery prices.“I think it’s only a matter of time before other grocery providers respond,” said the Minister.

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