Australia markets closed
  • ALL ORDS

    7,709.50
    +21.50 (+0.28%)
     
  • ASX 200

    7,493.80
    +25.50 (+0.34%)
     
  • AUD/USD

    0.7106
    -0.0011 (-0.15%)
     
  • OIL

    79.38
    -1.63 (-2.01%)
     
  • GOLD

    1,927.60
    -2.40 (-0.12%)
     
  • BTC-AUD

    32,345.46
    +259.03 (+0.81%)
     
  • CMC Crypto 200

    526.66
    +9.65 (+1.87%)
     
  • AUD/EUR

    0.6535
    +0.0006 (+0.09%)
     
  • AUD/NZD

    1.0934
    -0.0026 (-0.24%)
     
  • NZX 50

    12,036.05
    +12.59 (+0.10%)
     
  • NASDAQ

    12,166.60
    +115.12 (+0.96%)
     
  • FTSE

    7,765.15
    +4.04 (+0.05%)
     
  • Dow Jones

    33,978.08
    +28.67 (+0.08%)
     
  • DAX

    15,150.03
    +17.18 (+0.11%)
     
  • Hang Seng

    22,688.90
    +122.12 (+0.54%)
     
  • NIKKEI 225

    27,382.56
    +19.81 (+0.07%)
     

Coles locks and lowers prices on more than 1,600 products

Coles price-locked products
Coles will lock the price of a wide range of popular grocery items until 2023 to keep grocery bills manageable as we come into the Christmas season. Source: Coles

Coles has announced it will freeze the price of 1,168 grocery staples both in-store and online until 2023 to help combat the ongoing cost of living crisis, following a similar move from Woolworths this week.

The supermarket is locking or lowering prices on some of its most popular products, including meat, eggs, bread, pasta, canned food, baby products, cleaning essentials and more.

Coles to reduce prices of 500 items in coming weeks

MColes' extensive list of reduced-price staples is set to grow by more than 500 in the coming weeks to ensure price stability for its Australian customers as we approach the Christmas period.

Coles Chief Executive of Commercial and Express Leah Weckert said keeping prices of staple products affordable is one way Coles plans to help Aussies during this difficult time.

"As we lead into Christmas, we know customers want to see price stability and prices come down on the products that matter to them most, so we've locked the price of more than 1,100 products in store and online and we are currently lowering the price of 500 more," said Ms Weckert.

Coles price-locked items at checkout
Coles has locked and lowered prices on hundreds of popular products such as meat, bread, pasta, canned food and baby products. Source: Coles

"We will not only be publishing the prices of locked products, but also letting our customers know how long they can depend on that price," she added.

Ms Weckert assured customers the team has been working hard with suppliers to navigate the "inflationary environment" and work collaboratively to offer the best value to its customers.

She assured customers that Coles will "continue to offer thousands of new specials to our customers every week.”

Highlights of Coles locked price products

  • Coles Free Range Eggs 12-Pack 700g – $4.90

  • Coles Tasty Cheese Shredded 700g – 700g

  • Soft Round Rolls 6-Pack – $2.50

  • Pepsi Max Soft Drink 2L - $2.80

  • Cadbury Large Block Milk Chocolate 360g – $6

  • Arnott's Salada Range – $3

  • Croissants 4-Pack – $2.50

  • Coles Beef 3-Star Regular Mince 500g – $7

  • Coles Thin BBQ Beef Sausages 1.8kg – $12

  • Top 20 Variety Potato Chips 20-Pack – $6.50

  • Ajax Spray N Wipe Trigger Kitchen Stone Sage 500ml – $3.50

  • Coles Mint Dental Floss 50m – $3.00

  • Cub Unisex Nappies Range – $11.50

  • Coles Natures Kitchen Sweet Potato & Black Bean Burgers $3.75

Highlights of lowered prices range

  • Coles RSPCA Approved Chicken Portions with BBQ Rub – was $9/kg, now $8.50/kg

  • Riverview Farms Australian Hot Roast Pork – was $21/kg, now $20/kg

  • Flora Margarine Spread 1kg – was $8.95, now $8.50

  • Bega Peanut Butter 780g – was $8.00, now $7.50

  • Perfect Italiano Grated Cheese 250g – was $5.00, now $4.75

  • Coles Pacific Tuna Chunks In Olive Oil 425g – was $4.75, now $4.00

  • Coles Wholemeal Self Raising Flour – was $2.40, now $2.00

Two-thirds of shoppers looking for discounts

A recent survey of almost 4,000 Coles customers found that 85 per cent of shoppers say they've made changes to their grocery shopping to counter increased cost of living pressures, with two-thirds looking for more discounts.

Meanwhile just under half of Coles customers say they are buying fewer luxury or treat items to reduce their weekly grocery bill.

On Monday, before Coles announced its price reductions, Woolworths confirmed it will lower prices on more than 400 spring staples as part of its Prices Dropped program.

Available online and in-store until Tuesday 29 November, the program is Woolies' largest campaign to date and includes everyday items such as chicken, bread, yoghurt and vitamins.

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