Woolworths to the rescue! 'Price freeze' announced as cost of living soars
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As the cost of essential items like petrol and fresh veggies continue to rise, Woolworths has made a never-before announcement – the supermarket giant will keep the prices of "trolleys' worth of meaningful essentials" at their current levels until the end of 2022.
Flour, sugar, oats, eggs, tea bags, coffee, pasta, frozen peas, cheese blocks, bread rolls, bacon, and baby essentials such as nappies are among the items included in the price freeze.
The CEO of the supermarket giant, Brad Banducci, spoke about the rising cost of living crisis that is affecting people in Australia.
"The challenges we've worked through together in the last two-plus years have been unparalleled – from droughts and fires to Covid, floods and supply shortages, and now inflation and the pressure on household budgets," said Mr Banducci.
"As we all lean into the challenges of inflation, rest assured the whole team at Woolworths is committed to making sure you can always Get your Woolies worth."
Woolworths has put a hold on the prices of almost 200 everyday items. Credit: Woolworths.
The price freeze means that even though there are still problems and pressures with inflation, Woolworths is promising that the prices of these essential items that Australian families rely on will stay the same as they are now.
Floods, the pandemic, and fertiliser shortages have all put increasing pressure on suppliers, which has resulted in significant increases in the cost of groceries in eastern states this year.
According to the most recent data from the Consumer Price Index, the average price of vegetables experienced an increase of 6.6% during the most recent quarter.
There has been a nearly 5 per cent increase in the price of fruit, whereas there has been a 4.8 per cent increase in the price of meat and seafood.
Banducci advised shoppers looking to cut costs to get creative and mix up their usual shopping routine, such as purchasing frozen rather than fresh produce.
According to him, mandarins and oranges are currently in abundant supply, making them excellent seasonal purchases.
Customers can find the full list of price freeze products here.
Woolworths will freeze prices on "trolleys' worth of meaningful essentials" until the end of the year. Credit: NCA NewsWire/Nikki Short.
After Woolworths announced that they would be freezing their prices, a spokesperson for Aldi Australia asserted that their supermarkets still provided better value.
"There is no better indication of savings for customers than comparing your receipt at the end of your shop," the spokesperson said.
"At ALDI, our low price model means we are able to provide quantifiable savings on your whole basket every time you check out with us."
Matt Swindells, the chief operating officer of Coles, said on Today that shoppers should expect fruit and vegetable shortages to last for weeks because growers are having to deal with a "double whammy" of cold weather and flooding.
While lettuce, berries, and beans were in short supply, Swindells said there was plenty of alternative fresh produce.
"There is still plenty of citrus, plenty of apples, pears, grapes .. veggies are under pressure but you can still find great value across the shop. You don't [have to stop] eating healthy," he said.
"Pumpkin's cheap, when it is cold and it is wintery, pumpkin and cumin soup will go quite far."
What are your thoughts, folks? Do you believe this 'price freeze' will suffice to reduce grocery costs? Let us know in the comments below!
Flour, sugar, oats, eggs, tea bags, coffee, pasta, frozen peas, cheese blocks, bread rolls, bacon, and baby essentials such as nappies are among the items included in the price freeze.
The CEO of the supermarket giant, Brad Banducci, spoke about the rising cost of living crisis that is affecting people in Australia.
"The challenges we've worked through together in the last two-plus years have been unparalleled – from droughts and fires to Covid, floods and supply shortages, and now inflation and the pressure on household budgets," said Mr Banducci.
"As we all lean into the challenges of inflation, rest assured the whole team at Woolworths is committed to making sure you can always Get your Woolies worth."
Woolworths has put a hold on the prices of almost 200 everyday items. Credit: Woolworths.
The price freeze means that even though there are still problems and pressures with inflation, Woolworths is promising that the prices of these essential items that Australian families rely on will stay the same as they are now.
Floods, the pandemic, and fertiliser shortages have all put increasing pressure on suppliers, which has resulted in significant increases in the cost of groceries in eastern states this year.
According to the most recent data from the Consumer Price Index, the average price of vegetables experienced an increase of 6.6% during the most recent quarter.
There has been a nearly 5 per cent increase in the price of fruit, whereas there has been a 4.8 per cent increase in the price of meat and seafood.
Banducci advised shoppers looking to cut costs to get creative and mix up their usual shopping routine, such as purchasing frozen rather than fresh produce.
According to him, mandarins and oranges are currently in abundant supply, making them excellent seasonal purchases.
Customers can find the full list of price freeze products here.
Woolworths will freeze prices on "trolleys' worth of meaningful essentials" until the end of the year. Credit: NCA NewsWire/Nikki Short.
"There is no better indication of savings for customers than comparing your receipt at the end of your shop," the spokesperson said.
"At ALDI, our low price model means we are able to provide quantifiable savings on your whole basket every time you check out with us."
Matt Swindells, the chief operating officer of Coles, said on Today that shoppers should expect fruit and vegetable shortages to last for weeks because growers are having to deal with a "double whammy" of cold weather and flooding.
While lettuce, berries, and beans were in short supply, Swindells said there was plenty of alternative fresh produce.
"There is still plenty of citrus, plenty of apples, pears, grapes .. veggies are under pressure but you can still find great value across the shop. You don't [have to stop] eating healthy," he said.
"Pumpkin's cheap, when it is cold and it is wintery, pumpkin and cumin soup will go quite far."
What are your thoughts, folks? Do you believe this 'price freeze' will suffice to reduce grocery costs? Let us know in the comments below!
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