Asda is ploughing £300m into price cuts on thousands of products in the first quarter of 2015 in what the retailer claims is its biggest ever rollback.

Asda is slashing prices on 2,500 “household favourites”, including weekly essentials and big brands, as part of its five-year strategy to invest £1bn in lowering prices.

Many of the lower prices came into force from 1 January, with Birds Eye fish fingers 840g down from £4.24 to £2.77 until the 29 March and 750g beef down from £6.08 to £5.16 until 28 January. 

Some of the price cuts will be ongoing, such as Asda’s six free range eggs cut from £1.25 to £0.89.

“We’re going further than ever before, rolling back those every day, can’t live without items at a bigger percentage than we’ve ever been able to do previously,” said Asda chief merchandising officer for food Barry Williams.

“With hundreds of products at 50p, and even more at 15% less than normal, we’re aiming to make a big difference for families in their weekly shop.”

As well as cutting prices to essential groceries, the supermarket is also cutting prices on 150 cleaning products.

These price cuts announced today follow the news that Asda dropped the price of four-pints of milk to 89p.

The supermarket claims these lower prices will widen its price gap to other big retailers and position Asda’s prices even closer to the discounters’ prices.

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