Tesco has set off another round of price cuts in the Irish Republic ­ its fourth since last September ­ with an average 12% reduction on 120 food and grocery items in its 76 stores. The cuts were immediately matched by Superquinn which also added in some reductions of its own. Dunnes Stores, the second largest player in Irish grocery, refused to comment. However, SuperValu, which has over 200 outlets across the republic, said it would not be responding, with a spokesman describing the reductions as "a skirmish on a small number of fronts rather than a price war". Tesco has promised further price cuts during the year. Dermott Jewell, chief executive of the Irish Consumers' Association said a shake-up in the market was badly needed, as surveys had repeatedly shown that there was very little variation between the multiples on the prices of brands. {{NEWS }}

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