Discount Retail Chain Lidl freezes the price of over a hundred commodities to curb inflation. "These measures will cost money, but we are prepared to take the cost," says Jakob Josefsson, Head of Sweden at Lidl.
As of Monday, March 27, Lidl is lowering and locking the price of over a hundred goods. The discount chain states this in a press release.
The move came a day after Finance Minister Elisabeth Svantesson held meetings with the CEOs of the three players that are larger than the German challenger in the Swedish grocery market, without leading to any concrete measures.
The measures from Lidl are intended to have a mitigating effect on families' personal finances and will be in force for at least two months.
"Since we came to Sweden 20 years ago, we have been tasked with offering the highest quality at the industry's best price. With our business model where we always push down prices, we as a player in the grocery industry have a great responsibility. We will continue to offer strong campaigns, but we have now, in close cooperation with our suppliers, agreed to set new lower prices for over a hundred goods in all our stores in Sweden, says Lidl's Head of Sweden Jakob Josefsson in a comment. Goods such as coffee, flour and meat items from about 50 suppliers will receive new lower prices, according to the chain.
"We have selected a large number of popular products that we will give a new lower standard price. These measures will cost money, but we are prepared to take the cost and do what it takes to support Swedish households in an economically challenging time. We openly report which products are covered by the price freeze and will make it visible in the stores.
`These measures will cost money, but we are prepared to take the cost and do what it takes to support Swedish households in an economically challenging time.`Jakob Josefsson
Finance Minister Elisabeth Svantesson welcomes Lidl's initiative and writes on Twitter: "Very good that Lidl is leading the way in lowering and freezing its prices of over a hundred goods. I hope that the big food giants follow their example and thus make everyday life easier for all those households that are struggling with high prices".
In Norway, the second largest food chain, the low-price discount chain Kiwi, chose not to raise prices at the last negotiating window, despite higher prices from suppliers. Something that forced other chains to do the same. That pushed Norwegian food price inflation down in February to 8.7 percent. Compared to 21.6 percent in Sweden.
See here for more: Lidls utspel: Sänker och fryser priser (fri-kopenskap.se)
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