From today, the price of the supermarket’s 800g soft white medium, wholemeal medium, wholemeal thick and toastie white loaves will cost 75p each. That is a drop of 11% on their previous price.

Sainsbury’s said it is also cutting the price of its own butter to £1.89 for 250g, a drop of 5%.

The supermarket said that the price cuts were made possible by falling wholesale costs.

Rhian Bartlett, food commercial director at Sainsbury’s, said that the supermarket was always looking to help with the cost of living, which is why it strives to find ways to keep prices low.

She added: “We have been battling hard to beat inflation and whenever we are paying less for the products we buy from our suppliers, we will pass those savings on to customers.

“We are committed to offering our customers the best value possible so they can be confident that they are getting a great deal on their everyday essentials when they shop with us.”

The rising cost of our food

One of the biggest pressures for households currently is the increasing cost of food.

The latest data from the Office for National Statistics shows that food price inflation hit 19.2% in the year to March, up from the 18.2% registered in February. That’s the highest level seen since August 1977.

Some food items have seen far more significant price hikes however, with research suggesting that the likes of porridge and cheese have jumped by up to 80%.

As a result, a host of supermarkets have launched new price promotions in a bid to retain our custom. For example, Sainsbury’s recently launched Nectar Prices, a scheme where shoppers with a Nectar card enjoy lower prices on certain items.

However, supermarkets have been accused of profiteering, hiking food prices by more than is really necessary. It has led to Sir Ed Davey, leader of the Liberal Democrats, calling for an official investigation by the Competition & Markets Authority.

Davey said: “We need to bring soaring food prices back under control and offer relief to families. That means cracking down on profiteering by food multinationals and the big supermarkets so customers get a fair deal.”