Inflation-weary shoppers who’ve grown accustomed to sticker shock will experience some price relief at Target.

The corporation announced Monday it will lower everyday prices on 5,000 of its most frequently shopped items, including milk, bread, coffee, diapers, paper towels and pet food.

What You Need To Know

  • Target said Monday it is cuting prices on 5,000 of its most frequently shopped items

  • Butter, milk, bread, coffee, diapers, paper towels and pet food are among the products that are getting price cuts

  • Target recently lowered prices on 1,500 other items and plans more price cuts for the summer

  • Inflation in April fell for the first time this year but was still 3.4%

“We know consumers are feeling pressured to make the most of their budget,” Target Executive Vice President Rick Gomez said in a statement.

The move comes on the heels of the Consumer Price Index falling for the first time so far this year. The U.S. Labor Department reported last week that overall inflation had cooled to 3.4% in April, with grocery prices increasing 1.1%.

The new price cuts will apply to dozens of national brands as well as Target-owned brands including Everspring and Good & Gather. Price reductions will be marked with red tags and can be found in foods and beverages, household essentials, health and beauty and other departments.

A pound of Good & Gather unsalted butter previously priced at $3.99 is now $3.79. Pepperidge Farm Goldfish previously priced at $2.99 are now $2.79, while Clorox Scented Wipes that used to cost $5.79 are now $4.99, the company gave as examples.

The company said the new price cuts add to 1,500 other items that also recently received lower pricing. It is planning even more price cuts over the summer.

Target is expected to announce its first quarter earnings on Wednesday. The Zacks Consensus Estimate is that earnings will decline to $2.94 per share from $3.67 a year ago.