SHOPPERS are bracing themselves for a supermarket price war after Tesco slashed the cost of more than 40 staple foods.
The supermarket slashes prices of products such as mince, bacon, bread and baked beans [GETTY]The move by Britain’s biggest retailer is part of a “big, bold plan” to stay on top in the increasingly competitive industry.
Tesco yesterday dropped the prices of 43 everyday products such as mince, bacon, baked beans, bread, broccoli, butter and sugar.
The cost of broccoli and iceberg lettuce has been halved.
The changes come after Tesco had a second successive year of falling profits, forcing boss Philip Clarke to act.
Mr Clarke has promised customers would see further discounts in the weeks and months ahead.
Tesco claims to have cut the cost already of household staples by an average of 24 per cent.
Asda says its price guarantee, which applies to in-store and online grocery shopping, has saved the average family at least £165 on “essential items” in the past 12 months.
And in the past month Morrisons has lowered the price of popular grocery lines.
Industry analysts are convinced the move by Tesco will spark a new and aggressive discount war over the summer.
Experts say the price cuts will save families who enjoy a traditional English breakfast £96 a year.
Money-saving expert Martin Lewis said: “What really matters to the shopper is how much their trolley of groceries cost at the checkout.”
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