From today, Waitrose will lower prices on more than 200 of its basic own-label products by an average of more than 15%, while the Co-op will invest £50m in lowering prices across 300 essential products, according to The Guardian. 

The convenience store specialist will also be unveiling 59 “Honest Value” items, including British meat, soft drinks, fruit and vegetables.

This move by the Co-op follows a promise from group chief executive Steve Murrells that it would look to invest in price to stay competitive.