Also means
price cut
Usage Note
Preissenkung is a deliberate lowering of prices by a seller, whether in response to competition, lower costs, or promotional strategy. Different from a Rabatt (discount on a specific transaction).
Examples
"Die Preissenkung beim Strom entlastete viele Haushalte."
Natural Translation
The electricity price cut relieved many households.
Literal Translation
The price-reduction at-the electricity relieved many households.

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