It found food prices had risen 6.7 per cent overall, but Iceland is among the supermarkets trying to help struggling shoppers.
The frozen food giant has claimed a UK supermarket first by offering a discount to people over the age of 60.
With the cost of living crisis currently denting household budgets and inflation pushing up the price of food - including supermarket value ranges - the retailer says it has introduced the measure in a bid to help its customers.
Other supermarkets, such as Tesco, Asda and Waitrose, have also sought to help their customers - albeit through their loyalty schemes or by committing to drop or freeze prices on key everyday items.
So, how can you qualify for Iceland’s new over 60s discount - and how much will it allow you to save on your shop?
How does Iceland age discount work?
Iceland’s age discount will be available to people aged 60 years or over in Iceland stores across the country, as well as in The Food Warehouse - a discount chain also owned by the supermarket that has more than 150 stores in the UK.
Every Tuesday, from May 24, these shoppers will be able to claim a ten per cent discount on all products with no minimum spend.
This offer will only be available in store.
Iceland has also revealed it is set to roll out a £30 voucher scheme to people receiving the state pension.
The retailer rolled out the offer in a regional trial at Christmas, but now says it will extend it across the UK from this summer.
What do I need to do to get Iceland age discount?
To get ten per cent off your shopping, you will need to provide proof of your age when you reach the till.
You can use any of the following forms of identification to do this: driving licence, senior bus pass, senior rail card, Freedom Pass.
What has Iceland said about the offer?
Iceland said it had made the move to help its older customers cope with the cost of living crisis.
According to the latest inflation figures from the Office for National Statistics (ONS) Consumer Prices Index (CPI), food and drink had risen 6.7 per cent in price overall year-on-year as of April 2022.
The supermarket also pointed to research by charity Age UK, which found in January 2022 that three-quarters of people aged 65 and over were concerned about the impact of the cost of living squeeze.
“We have a long history of supporting our over 60s customers, such as when we launched ‘Elderly Hour’ at the height of the pandemic,” said Richard Walker, Iceland’s managing director.
“The cost of living crisis has made support for these customers even more important, which is why I’m proud that we’re finding new ways to support them, including the launch of this discount. We hope it will help all those in this age category to cut costs where they can.”
Alongside its age specific discounts, Iceland says it offers all shoppers cheaper prices across its meat, fruit and vegetable and store cupboard ranges, as well as free same-day delivery for customers who spend £20 in-store.