It said it was reducing prices on over 500 everyday essential products.
The chain, which has 221 stores nationwide, is cutting the price of fresh fruit, vegetables, dairy and meat products, nappies, pet food, firelighters, tea, coffee, orange juice, parma ham, soups, bin bags, biscuits and others.
It said it was reducing the price of SuperValu Irish Unsmoked Back Bacon Joint (700g) from €4.99, now €4.39.
SuperValu Irish Beef Round Steak Mince (454g) goes from €4.99 to €4.49.
SuperValu Orange Net (1.5kg) is coming down from €2.29 to €1.95.
The retailers own-brand nappies (size 5, 40pce) goes from €3.25 to €2.79.
Also coming down is the price of SuperValu Kitchen Towel (four roll) from €2.19 to €1.89 and SuperValu Kitchen Foil from €2.19 to €2.00.
The Musgrave-owner retailer said claimed customers can now save up to €20 every week on the average shopping trolley due to the cuts.
SuperValu managing director Luke Hanlon said: “At SuperValu, we understand that customers are feeling the pressure of rising costs and we want to respond in a meaningful way.
“That’s why we’re taking real action—cutting prices on 500 everyday essentials to help make customers’ weekly shop more affordable.”
Up to now retailers have been cutting the prices of single items such as bread, milk and butter.
Last month SuperValu and Centra, which are both owned by the Musgrave group, announced price cuts on the full range of SuperValu and Centra own-brand Irish butter products by up to 15pc.
Soon after Aldi and Lidl said they would also cut their butter prices.
Tesco also joined the price-cutting for its own-brand butter.
Consumers have been grappling with a surge in the price of staples with food inflation running at around 6pc, according to supermarket analysts at Worldpanel by Numerator
Recent figures from the Central Statistics Office show that there have been sharp price rises in the cost of meat, butter, cheese, milk, bread and spaghetti.
The CSO said overall inflation is at its highest level since February 2024, after growing by 3.2pc in the year to November.
Price rises over the past two years have hit consumers in the pocket. Photo: Getty
Today’s News in 90 Seconds, Thursday, January 8
According to the Consumer Price Index (CPI), inflation rose by 0.3 percentage points from October, when an annual increase of 2.9pc was recorded. The previous peak in the CPI, in February 2024, was 3.4pc.
Along with surging grocery prices, consumers are grappling with surging grocery prices, higher energy costs, rises in the cost of petrol, diesel and tolls, along with increases in the cost of motor, home, health insurance and property tax.
No energy credits are to be paid this year, for the first time in three years.
And for the first time in five years there was no change in income tax credits and no widening of the tax bands at the start of this month.
This means that people who get a pay rise will end up paying more income tax.