TESCO today raised the stakes in the retail price war as it announced discounts on 3,000 staple products.
The supermarket giant said it would invest £100m this month in a combination of permanent price cuts and promotions.
Offers will include three for £3 on Hovis bread and reductions in the prices of Muller Light yoghurts, Weetabix and own brand tea
bags and orange juice.
In a sign that competition between the supermarkets is intensifying, Tesco said it planned to launch a new advertising campaign tomorrow, which will compare the cost of customers' baskets of shopping against the prices of its competitors.
Richard Brasher, Tesco commercial and marketing director, said: "For years retailers have made claims and counter claims about who is the cheapest.
"But until now nobody has looked at what shoppers actually put in their shopping basket to provide a true picture of what customers are really spending."
Asda has already announced a new wave of discounting on thousands of items including fresh food and household products this month.
The Leeds-based supermarket said 100 frozen food products and 200 everyday health and beauty lines, such as shampoo and deodorant, would be sold for £1.
Sainsbury's has also joined the new year price competition, vowing to grow its Basics range to more than 600 products by the end of January.
The supermarket said more than half of these would be priced at less than £1.
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