Supermarkets are vying to win shoppers hunting for cheaper deals, as Asda and Morrisons become the latest to announce price cuts.
Asda, owned by the billionaire Issa brothers, has said it will inject more than £73m into ensuring the prices of more than 100 essential items are low, until the end of the year.
Meanwhile, Morrisons revealed on Monday it had slashed prices on more than 500 products. The retailer said it had also introduced new savings deals.
Prices on certain items at Asda will see an average drop of 12 per cent and at Morrisons price cuts will average 13 per cent.
It follows Marks & Spencer slashing prices on some core grocery items earlier this month, lowering prices within its Remarksable range, with price cuts of up to 20p.
Industry data has shown shoppers flocking to discount retailers such as Aldi and Lidl, with the budget firms gaining market share as customers face rising energy and tax bills.