Asda unveils price cuts on 1,500 items as it tries to regain market share

Asda has cut prices on 1,500 products as it attempts to stem a slide in sales with a price war that has wiped billions off the value of its rivals.

- Sarah Butler

The UK's third biggest supermarket said the reductions, on products including Cathedral City cheddar cheese and Head & Shoulders shampoo, meant it had cut prices on nearly 10,000 products since 31 January.

The retailer will reduce prices by 22% on average, with some items down by almost 45%. Allan Leighton, the chair of Asda, said the retailer intended to "continue to invest in lowering prices across the rest of the year and beyond".