Iceland has confirmed that its £1 price freeze across hundreds of products has been extended for another year.

The move comes as the cost of living crisis continues to ramp up, with consumers looking for ways to save money.

The supermarket has also confirmed that it will continue to offer its over 60s a discount every Tuesday.

Iceland cost of living initiatives 

This discount is for anyone aged over 60 and offers 10% off groceries with no minimum spend.

Since the discount was launched in 2022, Iceland has seen a marked growth in transactions and new customers every week – with 300,000 customers taking advantage of the discount on a single day in December.

Throughout 2023, Iceland will also be working to mitigate the impact of rising inflation on shoppers by keeping the price of over 600 £1 or less items as close to £1 and under as possible for the rest of the year.

The supermarket offers around 20% of all its products for £1 or less.

Iceland’s cost-saving initiatives extend to the supermarket’s Bonus Card that offers customers a 5% cash bonus on the card when they top up and check out using it – all made easier through Iceland’s Bonus Card mobile app.

In addition, this half term, the retailer is once again offering a special £2 bonus to Bonus Card holders when spending a £15 free school meal voucher at Iceland.

Richard Walker, Executive Chairman of Iceland Foods, said: “Many families are deeply worried about the tough times that lie ahead this year, which is why we have stepped up to extend our price freeze on our frozen range, giving our customers the assurance that the prices of the products they love will remain low. We have a responsibility to support our customers in any way we can and offer great value when people need it most.”

As well as offering extra value, the Iceland Food Club, in partnership with Fair for You, enables financially vulnerable customers to cover school holiday grocery bills or smooth out gaps in their income with interest-free microloans of £25 – £100 to purchase everyday items and will be continued this year.

The Iceland Food Club provided a lifeline to 10,000 customers in December, and the first top-up window of 2023 will open on 13 February for two weeks.

Your Money Matters

Your Money Matters is a campaign launched by us and our sister titles across Newsquest to help you overcome the surge in the cost of living.

This year has seen a whole host of household price increases - from the energy price cap rise to surging inflation and food prices - costing your family hundreds or even thousands of pounds extra per year. We're making it our mission to look out for your cash, offering money-saving deals, competitions, giveaways and insightful stories from your community on the impact this cost of living crisis is having on our readers.

The worldwide energy crisis exacerbated by the Ukraine invasion, the financial impact of the Covid pandemic, record inflation figures and a surge in the cost of goods, fuel and travel means we will all feel the pinch.

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