The price of milk sold by the mults has hit a new low, with Morrisons and Aldi both having cut the cost of two-pint bottles of own-label milk to 74p.

Morrisons made the move on 13 July, cutting its price for the SKU from 79p. It was followed by Aldi on 24 July, when it cut its price by 1p from 75p to 74p [Brand View].

A spokesman for Morrisons said: “We are committed to offering customers best possible value,” and added it was not passing the price cut on to farmers. Morrisons has also reduced the price of one-pint bottles of own-label milk this month, from 49p to 44p.

The latest price cuts follow moves by Asda, Sainsbury’s and Tesco during late June and early July to reduce the price of milk ranges other than four pints – bringing to an end a long period of price stability and opening up a new front in the supermarket price war on milk.

The three retailers cut the price of one-pinters from 49p to 45p, and two-pinters from 79p to 75p.

At the time of the cuts, Sainsbury’s said its four-pint range was “already great value”, but it also wanted to help those “doing smaller everyday shops”, while Asda CEO Andy Clarke conceded it had to offer “as competitive as possible a price on milk”.