Iceland vows to freeze price on £1 value range ease cost of living pressures
Iceland has pledged to freeze the price on its £1 value range in a bid to help ease the pressure of rising living costs.
The grocer revealed it will keep over 60 products at £1, online and in-store, until the end, with products including, frozen vegetables, pizza, chips, ice creams and ready meals.
The move comes, according to the Office for National Statistics (ONS) food inflation rates have reached the highest in three decades, with food prices rising to 5.4%.
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“We know that our customers will be feeling the pinch as inflation surges and it is our priority to mitigate it as much as we can, and continuing to commit to everyday low prices across our ranges,” Iceland managing director Richard Walker said.
“We hope this price promise brings some reassurance to those who are concerned about their finances in the year ahead, and will help to keep weekly grocery shopping as affordable as possible.”
The news follows Walker announcing that Iceland will be offering loans to customers who are unable to afford food.
The grocer is offering an “ethical and affordable alternative” to the “ultra-high-interest lenders, or even illegal loan sharks”, which families might otherwise resort to.
