Denmark's Salling Group has extended price ceiling on more than 300 products across the Netto, Bilka and Føtex chains until the end of the year.
The price cap, first announced in May of this year, was initially due to run until the end of October.
The move ensures the that more than 300 basic products will not be subject to price increases despite high inflation.
CEO of Salling Group, Per Bank, stated, "It is a difficult time for many Danes, who are experiencing price increases on energy and housing costs, as well as on everyday shopping. That's why we introduced the price cap, and in light of the current situation, we are extending it so that the guarantee runs out this year."
Price Caps
Customers have been very receptive to the price cap, which covers basic products such as flour, milk, oatmeal, mince, wet wipes and much more, the retail group noted.
The company added that the decisions to extend the offer by a few months has not been a difficult one considering uncertain economic forecasts.
"In our stores, the price cap is a guarantee, while we continue to offer both a fixed range of products at great prices and special offers on hundreds of items every week. All in all, this gives customers the opportunity to shop at reasonable prices despite the current situation," Bank added.
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