One Stop has cut the price of milk, bread and eggs as part of an investment in long-term price reductions.

The move would involve the key lines of 800g bread, two-litre milk and six free-range eggs becoming available to customers at £1, One Stop said.

In total, 71 products have seen prices reduced. The new pricing was introduced into stores on 9 December and One Stop said it would be supported by marketing.

“These prices aren’t promotions, they’re here to stay,” said One Stop commercial director Sam Perkins.

“We’re renowned for our value, range and service, so our customers expect us to remain competitive, particularly on everyday essentials,” he added.

“With these changes, we’re aiming to reward our existing customers’ loyalty and also attract new customers to our stores. With these new prices, we’re making a significant investment for customers.”

Last month, the Tesco-owned chain reported a 2.7% increase in pre-tax profits to £38m for the year to 22 February 2014. Sales rose by 9.5% to £789m.