Discount supermarket chain ALDI announced this week it will be lowering prices on nearly one-third of its everyday products; a move the company projects will save U.S. shoppers an estimated $86 million.

The reductions took effect on Wednesday this week and will run at least through the first week of November. The price reductions cover seasonal produce, organic items and lean proteins.

ALDI Chief Commercial Officer Scott Patton said in a statement that "value is a year-round promise, not a promotion. Customers trust us to help them make the most of their grocery budget, and we never stop looking for ways to run our business more efficiently so we can pass along savings. As shoppers head into fall routines and healthier habits, we’re making additional investments to lower prices on our better-for-you favorites, building on the value customers already see throughout our stores.”

The retailer attributed the price cuts to its efficient operations and supply chain. ALDI noted that with these changes, nearly one-third of its everyday assortment is now priced lower than last year. The company operates more than 2,600 stores nationwide and reports it already saves shoppers an estimated $10.2 billion annually through its prices.

According to the company's news release, ALDI now offers the lowest prices of any national grocery store.

The fall initiative builds on prior efforts by the discount chain to deliver additional savings amid elevated grocery costs. ALDI said the reductions target customer favorites popular during the season while maintaining its focus on private-label goods and streamlined operations.