The supermarket offers around 20 per cent of all its products for £1 or less. Throughout 2023, Iceland will be working to mitigate the impact of rising inflation on shoppers by keeping the price of more than 600 £1 or less items as close to £1 and under as possible for the rest of the year.
It has also announced that it will keep giving its over-60s discount each Tuesday.
With 300,000 customers using the discount on a single day in December, Iceland has experienced a noticeable increase in transactions and new customers every week since the discount was introduced in 2022.
What other cost-of-living initiatives is Iceland extending?
This half-term, Iceland will give Bonus Card holders a £2 bonus for every £15 spent on school vouchers at retail stores, giving parents almost 13 per cent more value overall.
Another cost-cutting initiative includes a five per cent cash bonus when shoppers top up and check out using the Bonus Card. This is all made simpler with the Bonus Card mobile app.
The first top-up window of 2023 will open on February 13 for two weeks.
The Iceland Food Club, enabling financially vulnerable customers to cover school holiday shopping bills or smooth out gaps in their income with interest-free micro loans, will also be continued this year.
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.”