Products included in the freeze for hospitality businesses are from grocery, chilled and frozen, liquor, beverage and general merchandise categories.
Gilmours general manager Cindy Chaimowitz said it was important to take action because many operators were facing closure.
Some have also reported that their current trading conditions are the worst they have ever experienced.
"Our price freeze is designed to provide immediate relief to these businesses, enabling them to keep their prices competitive and attract more diners."
Restaurant Association chief executive Marisa Bidois said the challenges the sector faced were among the most significant in years.