Sinn Féin TD for Dublin South West Seán Crowe has said that the reduction in the price of food items by Tesco, while welcome, shows that more could always have been done by supermarkets to help customers in the face of price hikes.

Teachta Crowe also criticised the government for failing to tackle the rising cost of living and urged them to act swiftly so that hard-pressed people get a break.

Teachta Crowe said:

“The cost of living is out of control and workers and families are stretched beyond their limits. Food costs are sky high and ordinary workers and families are struggling to afford their shopping.

“The reduction in the price of food items by Tesco while welcome shows there has always been scope for supermarkets to reduce the cost of essential items. Let’s be clear, these reductions are happening because of public pressure not due to any government action.

“Experts including the European Central Bank highlighted that corporate profiteering was contributing to price rises as firms used inflation as an excuse to increase profit margins. We need transparency on this urgently.

“Proactive solutions must include and ensure the recovery of unfair profits, in order to stimulate cut food prices. Consumers need to see food prices go down at the tills, so that their bill is reduced to affordable levels.

“Meanwhile, the government should work with supermarkets to ensure substantial price cuts on everyday essential items. This has been done elsewhere in Europe and can be repeated here too.

“When passing on these savings, supermarkets, large producers, and large food corporations should in no way try to squeeze primary producers and family farmers, who are also under significant pressure.

“The slowness of government to act on food prices is replicated in other areas, including energy costs, housing costs, and mortgage increases.

“We need to see meaningful action to bring costs down for workers and families across the board. The cost of living crisis is hitting people from all sides and government must ensure workers and families get a much-needed break from out of control bills and the rising cost of basic essentials like food and housing.”