Effective from Sunday, October 12, one litre of the supermarket’s own fresh milk costs 6c less, falling from €1.25 to €1.19.

Also, two litres of the supermarket’s fresh milk now costs 10c less, down from €2.45 to €2.35.

The move comes following price drops by Lidl and Aldi in recent days, the first reductions in the cost of milk in Ireland since 2023.

Tesco customers will also benefit from reductions in the cost of full and low fat, low fat fortified, lactose free, skim milk and protein milk.

The most up-to-date figures from the Central Statistic Office (CSO) have found that consumer prices rose by 2.7pc over the past 12 months.

This is up from an annual increase of 2pc in the 12 months to August 2025.

Today’s News in 90 Seconds, Sunday, October 12

This is the highest annual rate of inflation observed in the consumer price index since March 2024 when the rate has increased 2.9pc.

Food and non-alcoholic beverages increased by 4.7pc in the last 12 months, while miscellaneous goods and services increased by 3.7pc.

Food prices were the main reason for the jump in prices, with the cost of a kilogram of steak up €5 in the past year.

Anthony Dawson, Statistician in the CSO’s Prices Division has pointed out a number of selected goods and services which have experienced significant changed in price in the last year.

This included Irish cheddar per kg (+69c), a pound of butter (+68c) and 2 litres of full fat milk (+27c).

There was also a decrease in the price of a 2.5kg bag of potatoes (-42c).

Two litres of full fat milk in Tesco has dropped 16c, from €3.55 to €3.39.

Meanwhile for Aldi, two litres of it’s fresh milk has gone down 16c from €3.55 to €3.39.

In a statement, CEO Geoff Byrne of Tesco Ireland said Tesco is focused on “delivering value” to customers through clubcard prices and it’s Aldi price match initiative. The supermarket matches comparable products with Aldi on a weekly basis.

Mr Byrne said: “While cost pressures remain across the supply chain, we’re committed to keeping prices affordable and helping households to manage their weekly shop, without compromising on quality or our support for Irish suppliers.

“From today, we’re further investing to match own-label milk prices in the market to ensure customers continue getting great value on the essentials that matter most to them, whilst also continuing to support the thousands of Irish farming families we work with.”