Poundland has today (25 July) reduced the price of big brand \u201cfamily favourite\u201d products, many of which went back to a \u00a31 price point, following last week\u2019s inflation data showing price rises are moderating from 8.7% in May to 7.9%.\u00a0\r\n\r\n\r\n\r\nThe retailer\u2019s price reduction, which has been dubbed \u2018Operation Sell for Less\u2019, has hit over 800 of its UK stores this morning. This means that many big selling lines have come down in price, with many now being over a third less than RRPs.\u00a0\u00a0\r\n\r\nAccording to Poundland\u2019s recently released research, despite falling inflation, customers are still \u201chighly\u201d concerned about making ends meet. While energy bills have started to fall, concerns about the cost-of-living are also still high.\u00a0\r\n\r\nTim Bettley, trading director of Poundland, said: \u201cWe\u2019ve worked hard since the beginning of the cost-of-living crisis to maintain our promise of amazing value to customers - and our consistent, steady growth shows they\u2019ve noticed.\r\n\r\n\u201cBut we also know the pressures are still real. Energy prices may be falling, but mortgage costs are on the rise so our job, now inflation is beginning to ease, is to do everything we can to pass on lower prices as soon as we can.\u201d\r\n\r\nHe added: \u201cWe know that discounters like us passing on cost savings quickly, can help lower prices right across the market and drive inflation down faster. We\u2019re committed to that mission of delivering amazing value \u2013 and we know how much that matters to our customers.\u201d\r\n\r\nThe retailer is also continuing to revamp stores to accommodate wider ranges of items customers buy weekly.\u00a0\r\n\r\nIn addition, it will open or relocate nine new stores over the coming weeks in Braehead, Frome, Torquay, Ipswich, Selby, Pontefract, Cardiff, Stafford, and Ryde. Up to six other stores are also planned to open before the end of September.