Morrisons has overtaken Asda to become the cheapest supermarket this week. Morrisons' basket came in at £45.53, just pipping perennial price leader Asda and Sainsbury's, which has been cutting prices to regain market share. The spread on the basket price between the top three supermarkets was a mere 18p, or less than 1p per item spread across our 33-item shopping basket.

Morrisons was actually marginally more expensive than Asda on most items in the basket, but had dropped its price for Jacob's Creek Chardonnay recently, just as Asda returned from promotional pricing on the same product.

Sainsbury's was in third place with a basket price of £45.71, which was less than 1% higher than Morrisons first place total. Tesco was back in fourth place, with a its basket totalling £46.95, or 3.1% more than the week's price leader.

Morrisons did outprice Asda on one key staple: the Hovis medium wholemeal sliced loaf. Asda increased the price of this item by 6p, to 94p, as did Waitrose. Somerfield also raised the price of its Hovis medium sliced wholemeal loaf 6p to 98p.

The Somerfield price increase was a rapid follow-up to the 3p increase it took a month ago.

More price increases may follow across the board in baked goods, as flour supplier ADM Milling this week announced that the price of flour could rise as much as 20% in the near future.

However, the rest of the competition has, for the moment, held the price of the Hovis wholemeal loaf at 88p, its stable level since the year began.

The prices of the tinned goods in our shopping basket have remained stable for the past two weeks, except for Sainsbury's, which raised the price of its own-label kidney beans by 15%, up to 15p.

Elsewhere, Somerfield dropped the price of Cathedral City mature Cheddar to £1.79. Somerfield had priced the product at £1.98 for most of the year, except in June when it also briefly used the £1.79 price point.