Morrisons has become the latest retailer to join the supermarket price war, with plans to lower more than 2,000 prices within the next two weeks.

The chain also said it would launch a 'Summer Price Freeze' which would guarantee that baskets of selected fresh food items would not increase in price for the rest of the summer.

Last week, Asda sparked a price war when it launched a £250m price cutting campaign, lowering 10,000 prices across food, clothing and general merchandise. Tesco responded with a £270m price-cutting campaign, in what it said was its “biggest ever price blitz”.