Australia markets closed
  • ALL ORDS

    7,745.90
    -25.90 (-0.33%)
     
  • AUD/USD

    0.6897
    -0.0027 (-0.39%)
     
  • ASX 200

    7,539.00
    -19.10 (-0.25%)
     
  • OIL

    73.66
    +0.27 (+0.37%)
     
  • GOLD

    1,885.90
    +9.30 (+0.50%)
     
  • BTC-AUD

    33,104.81
    -1,053.21 (-3.08%)
     
  • CMC Crypto 200

    524.36
    -12.50 (-2.33%)
     

Coles extends price freeze for supermarket favourites

Coles and Woolworths froze prices on grocery favourites, but only one has extended the policy.

The exteriors of Woolworths and Coles stores.
Coles has extended its price freeze policy, but will Woolworths do the same? (Source: Getty)

Supermarket giant Coles has confirmed it will extend its price freeze policy past the January 31 expiry date - giving Aussies at the checkout more certainty when it comes to their grocery costs.

Speaking to Nine News, a Coles spokesperson confirmed the “DROPPED&LOCKED” policy would continue, but did not say when the new expiry date would be.

"DROPPED&LOCKED has received an incredible response and has helped save Australian households millions of dollars since it launched last year," the spokesperson said.

"With cost-of-living pressures, customers know they can rely on these locked prices at Coles each time they go shopping to help plan and manage their budgets.

"DROPPED&LOCKED will continue beyond 31 January - when the first phase of the promotion was scheduled to end. Further details will be provided soon.”

Both Coles and rival Woolworths announced price freezes around August last year, however Woolworths’ price freeze ended in December.

Will Woolworths bring price freezes back?

In a sad twist for Woolworths customers, it seems price freezes returning are not on the table.

Woolworths said it would not extend its price freeze program, but a spokesperson said the supermarket was still committed to keeping prices down.

"We know cost-of-living pressures are being felt by Australian families and, throughout 2023, we will continue to work hard to help them save each time they shop with us," the Woolworths spokesperson said to Nine News.

"While the price freeze program has come to an end, we remain focused on maximising value for our customers, and many of the products from the program currently remain at the same low price.

"We will continue to review each cost-increase request from our suppliers on a case-by-case basis, working together to sensitively manage market-wide inflationary pressures.

"We've recently reduced the price of more than 300 summer grocery staples as part of our Prices Dropped campaign, delivering millions of dollars in savings across our customer base, on top of the 5,000 specials we offer every week."

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to our free daily newsletter.