Supermarket prices - Page 8

jackelnino wrote on Sat Apr 15, 2023 11:18am:

Embarassed by their profits so..................

MADRID (Reuters) - Spain's leading supermarket chain, Mercadona, will lower the prices of at least 500 basic food products, it said on Wednesday, amid a cost of living crisis that had prompted the government to seek concessions from retailers.

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The announcement comes a few weeks after Mercadona president and majority owner Juan Roig said his company, whose market share is nearly 26%, had had to raise prices "by a huge amount" to maintain margins through the food production chain.

The company said in a statement on Wednesday that after seeing that input costs were slowly easing, it decided to make price cuts that it expects will save 150 euros ($165) on average for customers this year.