Waitrose is to cut prices across hundreds of grocery staples as it battles to win back cash-strapped middle class shoppers.
The supermarket chain said it had invested a record £100m in cheaper items with nearly a quarter of price cuts being lowered by 20pc.
Fresh vegetables, meats and cheese are among the 300 Waitrose own-brand items getting cheaper, with a 1kg bag of carrots falling from 60p to 50p and Savoy cabbages dropping from 90p each to 70p.
An 80g packet of roast ham slices is also falling from £1.50 to £1, while a 160g block of mature cheddar is being reduced from £2.10 to £1.50, with further price cuts expected to follow.
The shake-up comes after a difficult year for Waitrose, in which the grocer’s market share fell and bosses revealed a drop in half-year sales.
A year ago, the chain had a 5.1pc market share, compared with 4.7pc now, according to data from Kantar.
Analysts said the supermarket has faced tough competition on price from Marks & Spencer, while many middle class shoppers have also been lured by cheaper options on offer at Aldi and Lidl.
Research by Which? showed Waitrose is currently Britain’s most expensive supermarket, with a basket of 45 popular items costing £26 more than Aldi.
A Waitrose basket came to £107.71 in a January survey, compared to £95.65 at Sainsbury’s, £93.80 at Tesco and £82.03 at Aldi.
At Ocado, which stocks products from Marks & Spencer, the comparable figure was £100.87.
Waitrose, which is owned by the John Lewis Partnership, pointed to the cost of living crisis as the main reason for its fresh round of price cuts. With inflation running at more than 10pc, customers are being squeezed by higher food prices, soaring energy bills and rising mortgage payments.
James Bailey, the supermarket’s executive director, said Waitrose recognised that “getting value for money has never been more important for everyone”, with the vast majority of price cuts aimed at the lower-cost products in the retailer’s “Essentials” range.
Mr Bailey said: “The main criteria was, ‘Which are the products that our customers buy the most of, which if we cut the price they will get the most benefit from?’
“They are mainly in the fresh categories – meat, fish and poultry, everyday cooking and things like that.”
Mr Bailey disputed claims that Waitrose has not been competitive enough on price.
However, he added: “If you take a long-term view, it’s in our best interests to be on the side of consumers, to be affordable, to be accessible, and for our customers to feel confident that shopping with us, they're getting good value for money.