Chief executive officer Chris Bush said they had slashed RM20 million off the price of 500 products with price cuts ranging from five to 41 per cent.

Fifty everyday staples which are its best-selling lines, including oil, sugar, flour and rice, will not be beaten on price.

Tesco will refund twice the difference if any of the 50 products is found to be cheaper elsewhere.
Its director of corporate and legal affairs, Azlam Shah Alias, said Tesco is seeing an increase in customers lately.

"We are actually doing good business as our prices have been maintained," he said.

Carrefour Malaysia is also committed to keeping prices low.

Its marketing and communications manager Sivakumar Haridas said whenever possible, Carrefour practised a strict policy of "lowest price guarantee" where prices are kept low regardless of inflation or price increase in the market.

"Carrefour launched the price cut campaign on March 21, where we further reduced the prices of 1,000 items.

"Compared with last year's prices, we are able to provide even more savings, focusing on our own 'Carrefour' brand products, which on an average are almost 15 to 30 per cent lower in price compared with other leading brands," said Sivakumar.

Another leading hypermarket, Giant, declined to comment.