The promotion, which sees the price of eight 275ml bottles of Carlsberg drop to £3.99 and six 300ml bottles of Grolsch to £3.74, is designed to make it easier for customers during a traditionally tight month.
The supermarket is also expanding its price checking to include 2,000 lines sold at discount retailers Aldi and Lidl as part of a review of its competition. It already price checks its products against the same ones sold in other supermarkets such as Sainsbury's and Asda.
Commercial director Richard Brasher said: “Tesco was of course the first discount store to open in the UK decades before anyone else and has a long history of offering customers low prices, which is one of the reasons why so many people choose to shop with us.
"But over the years we have also developed products of unbeatable quality and invested in stores and staff to provide the best possible shopping trip.
“Now as other discount stores expand into the UK and canny customers seek ever lower prices we cannot be complacent.”
Tesco said it would also be adding another 300 own-label products to stores in 2008 to match those offered by stores such as Aldi and Lidl.