Latest news with #pricefreeze
The Sun
02-06-2025
- Business
- The Sun
Major supermarket promises to FREEZE formula prices for the rest of the year
A MAJOR supermarket has promised to freeze formula prices for the rest of the year. Aldi has pledged to freeze the price of its Mamia First Infant Formula for the remainder of 2025. 1 Aldi will continue to charge £6.99 for its own label formula. That is around £5 less than the average price of formula elsewhere in 2024. Big name brands like Hipp and Cow & Gate cost around £12 at major retailers such as Boots. The move comes after data from First Steps Nutrition Trust shows that baby formula prices remain close to historic highs, with the most expensive product on the market now priced at £18. It was also found that the price of baby milk fell only 50p on average last year, to £11.99, compared to £11.10 in 2021 - four years ago. The trust said new own-brand infant formulas from Aldi and Lidl have been hitting the market with lower price points. However, prices of eight of the 12 available infant formulas in shops were still "high and static" between April 2024 and May 2025. Only the remaining four out of 12 available to customers as of this month are less than £8.50. The report said that the infant formula market overall remains "dominated by expensive products". The government is yet to publish a response to the recommendations. Among the measures suggested by the CMA is that the NHS introduce its own non-brand baby formula in a bid to drive prices down. It has also proposed existing baby milk products be provided in non-branded containers in hospitals to reduce the impact branded products can have while parents are in a "vulnerable" setting. The CMA has also put forward that packaging should clearly display nutritional information, while any claims that cannot easily be checked by parents are banned. It said this would make it easier for parents to pick between brands. The CMA has made no recommendation on a price cap for baby milk, despite higher prices faced by shoppers in recent years. It comes after the CMA, the regulator, proposed in February several measures which, if confirmed, could save parents buying baby milk around £300 a year. Julie Ashfield, chief commercial officer at Aldi UK, said: 'Shoppers should not be paying over the odds for the essentials. As the UK's cheapest supermarket, we're committed to keeping prices low on the products our customers rely on most. 'As formula prices remain at historic highs across the market, we want to reassure parents that at Aldi, there will be no unwelcome surprises at the checkout – we're keeping our Mamia First Infant Formula at just £6.99 for at least the remainder of this year.' All first infant formula must be nutritionally equivalent, but prices can vary due to factors like branding.
Daily Mail
20-05-2025
- Business
- Daily Mail
Home Depot proves greedy Walmart bosses wrong in major win for for all shoppers
The Home Depot just gave American shoppers a little peace of mind. Its executives don't expect major price changes over the next 12 months, a huge contrast to other big chains — like Walmart, Target, and Best Buy — that have warned about tariff-related price hikes. 'We don't see broad based price increases for our customers at all going forward,' Billy Bastek, the executive vice president, said during The Home Depot's earnings call. Executives at major brands have roiled President Donald Trump with their announcements about price hikes. The President, who campaigned on lowering prices during the 2024 election, has lashed out against Walmart and Amazon after both companies said his policies would make consumers pay more for common products. In a post on Truth Social, the President told the companies to 'eat the tariffs.' But major corporations have to protect their profits, retail experts told The companies, who have relied on US foreign trade deals to supply their stores, will likely face major layoffs if they don't stay in the green. 'Produce from overseas will be impacted heavily because margins are low and costs need to be passed across,' Neil Saunders, the retail expert at Global Data, previously told 'General merchandise, especially home products and electronics, will also be impacted as they are heavily reliant on overseas production.' But no price rises at The Home Depot, which has 2,300 stores and dominates the US DIY sector, from two key factors. First, the company has deep US product sourcing. Second, its betting President Donald Trump will extend a pause on higher-than-expected 'Liberation Day' tariffs. 'We anticipate that 12 months from now, no single country outside of the United States will represent more than 10 percent of our purchases,' CFO Richard McPhail said in a statement. 'We intend to generally maintain our current pricing levels across our portfolio.' The Home Depot also said it would start slashing products that are produced abroad. 'There are items that we have that could potentially be impacted from a tariff that, candidly, we won't have going forward,' Bastek added. Walmart's executives said shoppers will likely see increased prices because of Trump's tariffs Home Depot sources less than half its products outside North America and has been deliberately pulling back from China in recent years. That strategy is paying off. The company reported $39.86 billion in net sales for the quarter ending May 4, topping analyst expectations. Shares rose 2 percent in premarket trading after the company reiterated its fiscal 2025 forecast. That is also standing in stark contrast to other major American brands that have removed their 2025 financial expectations. Home Depot's founder, Ken Langone, recently joined a growing list of executives that had criticized Trump's tariff policies. 'I don't understand the goddamn formula,' the billionaire said. 'I believe [Trump's] been poorly advised by his advisers about this trade situation — and the formula they're applying.' But the pricing pullback shows that retailers are caught in between two difficult choices: say nothing, or warn customers and risk angering the President. With rivals sounding alarms about rising costs, Home Depot is trying something bolder: standing still.
