Both Lidl and Aldi have moved in the last 24 hours to cut the price of bread. This comes following recent cuts by retailers to the price of a litre of milk.

Lidl Ireland has announced a price cut across its bread range, reducing the price of a medium sliced pan to 85c, saving consumers more than 10% per loaf.

This reduction will apply to Lidl’s range of five sliced pan products. The retailer has estimated that this will put €850,000 in savings back into the pockets of Lidl shoppers, almost 200,000 of whom purchase one of these sliced pans every week.

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"These price cuts form part of a wider series of reductions across everyday essentials.

"Since July of this year, Lidl has invested a total of €20m on more than 300 price cuts on staple items such as milk, pasta, cereals and convenience meals, as well as nappies and pet food, to deliver on its commitment to never be beaten on price," Lidl said.

Announcing this price reduction, chief executive officer of Lidl Ireland and Northern Ireland Robert Ryan said: “At Lidl, our promise to our customers has always been clear – that we won’t be beaten on price.

"This latest round of price cuts represents our continued investment in delivering real value for our shoppers.

"Bread is a household staple and by lowering the costs of everyday essentials including bread and milk, we’re helping families’ money go further."

Aldi

Aldi Ireland has also confirmed that it will be reducing the retail prices across its private-label bread range with immediate effect.

This follows the retailer’s price cuts in recent months for key household staples right across its range including milk, fresh fruit and vegetables, lunchbox essentials and meat.

This price reduction will see Aldi’s sliced pan loafs reduced by 10c each to 85c (white bread), 95c (brown bread) and 99c (white Mega-Toast) respectively.

The price of ‘Simply Both’ sliced pan and white half-loaf sliced pan will both be reduced by 4c, to €1.05 and 75c respectively.

Aldi has said that it will continue to review the market on a daily basis to ensure it remains the best value retailer on price, having cut the prices of hundreds of products over the last number of months.

Commenting, country managing director Aldi Ireland Niall O’Connor said: "At Aldi, we’ve been cutting the prices of hundreds of products right across our range over recent months as we continue to deliver on our promise to our customers – Aldi will never be beaten on price.

"We believe no one should have to choose between affordability, taste and quality - and we will always offer the best value to Irish shoppers.

“We fully understand the pressures on households and are determined to help their budgets stretch further.

"That is why we continue to lower our prices so that our customers can always be sure that when they shop with Aldi, they can get great quality products at the best price, right across our range."

Aldi has said that this announcement is the retailer's latest cut to its "ongoing campaign" of price cuts on household essentials.