MAJOR IRISH SUPERMARKETS have announced that they are all reducing the price of their own-brand milk products.

Lidl was the first of the three to announce the reduction, saying a two-litre carton of its own-brand milk will drop in price from €2.19 to €2.09.

Lidl made the announcement last night. The reduction has taken effect today.

Aldi confirmed this morning that it will be cutting the prices of “all its own-brand milk products by an average of 10 cents”.

Supervalu and Tesco Ireland confirmed to The Journal this afternoon that they are both reducing the price of two-litre cartons of their own-brand milk from €2.19 to €2.09.

Both price cuts in those supermarkets will take effect on Monday.

Dunnes Stores has not said if it will reduce any product prices.

This marks the second time that Aldi, Lidl, Tesco and Supervalu have announced price cuts for milk at the same time. In April, Lidl announced that its in-store milk would be reduced by 10 cent, and it was followed hours later by Aldi, Tesco and SuperValu which all announced a similar reduction.

The four chains also lowered the price of butter last month.

Irish supermarkets have faced accusations of price gouging amid the cost-of-living crisis as customers report major price hikes for basic goods.

Price gouging is not defined in law but is generally understood as a situation where a trader charges prices at a level that is considered unreasonable or unethical.

It is a term that is often used in situations where a trader makes very high profits as a result of a crisis or disaster situation.

Additional reporting by PA