The two major food stores are each set to reduce their prices on more than 200 products.
Asda has today announced price cuts on 232 branded and own-label products. The supermarket is set to invest £9m to lower prices by an average of 14% on many of the most popular products, including bread, fresh fruit and vegetables and fresh meat.
Some of the deals to be on offer are Asda Braeburn apples being reduced by 20p to £1.80 and Asda pears will see a bigger drop in price by 70p to also come in at £1.80.
A 400g pack of McCain oven chips is to be reduced by a fifth to £2 from £2.50.
This latest round of price cuts follows £35m of investments to cut back the price of over 600 products during July and August.
In total, Asda said that it has now spent £44m on lowering prices since the start of this summer.
Kris Comerford, Asda’s chief commercial officer, said: “While the recent fall in inflation is welcome news, the average UK household is almost £80 per month worse off compared to two years ago, according to our latest income tracker data.
“This is the third price drop campaign we have launched in the last four months to support our customers, and our investment is focused on lowering the prices of popular products that make up the core weekly shop.”
Marks and Spencer cut prices by 11% on average
M&S has also said it is to reduce the cost of over 200 of its products as part of its trusted value promise campaign, aimed to deliver high quality products at the best possible price.
Some of the best deals on offer include two responsibly sourced Marks and Spencer tuna steaks being reduced to £5.50 from £6.50 while British beef mince is to fall from £5 to £4.26.
Cherry tomatoes will be reduced down to £1 from £1.40, and a 500g pack of basmati rice will see a fall from £1.35 down to £1.05.
The latest announcement is a continuation of recent price investment reductions. In June, the retailer said that it would be cutting back the prices of 75 of its products, and at the start of September, it extended its price lock on over 140 items until after the Christmas period.
Alex Freudmann, the managing director at Marks and Spencer food: “While we continue to deliver industry leading quality, it’s important we don’t lose sight of what’s also important for our customers this autumn and that’s value.
That’s why we’re passing on savings to customers and cutting prices once again as part of our trusted value promise.”
