Asda cannock

Source: Asda

Asda was exclusively cheapest for seven items, including the tiramisus

Asda came in cheapest for the second week in a row, but Sainsbury’s fledgling Nectar Prices initiative – which doubled in scope to 900 lines this week – has finally had an impact, saving its loyalty card holders £1.55 to wipe out the £1.44 difference vs Asda’s £76.72 basket.

In what was a highly competitive week, Asda was also only 65p cheaper than Morrisons, after offering the lowest price for 17 items, with seven exclusively cheapest including the baby plum tomatoes, Bonne Maman conserve and the tiramisus.

Morrisons was cheapest for 16 items, exclusively so for nine, including the Philadelphia Intense spread, scotch eggs and sultana scones.

At almost 6,000 products Tesco’s Clubcard Prices scheme remains significantly larger than the Sainsbury’s offer despite it having scaled up from 300 on launch, and members would have received a bigger discount, with its Clubcard Prices delivering savings of £3.90. However, its £81.71 total meant that even with this discount it would still have been £1.09 more expensive than Asda and £1.20 more than Sainsbury’s after the Nectar Prices offer had been applied.

With a dozen deals, Waitrose had the most promotional activity this week, and was exclusively cheapest for the Kirsty’s cottage pie and Quorn pieces. However, the upmarket retailer was still £11.75 more expensive than Asda at £88.47.

Across all five retailers, prices were on average 11.9% higher than June 2022 and were also up 0.7% month on month. The biggest individual price increase was on the Aunt Bessie’s roast parsnips, up 43% year on year, followed by the Betty Crocker icing (up 32%), and tiramisus and sultana scones both 30% more expensive. Three products were cheaper year on year: the swede (–11%), tomatoes (–9%) and blueberries (–2%).