Morrisons has promised shoppers it will match or beat the prices of its main supermarket competitors across hundreds of essential everyday products.

The "unbeatable prices" initiative, introduced on Monday, vows that the retailer will not be undercut by any of its five largest rivals. This pledge points to a potential escalation in the ongoing price war among UK grocers competing to attract customers.

Operating roughly 500 supermarkets and 1,700 convenience stores, Morrisons hopes the pricing strategy will help reverse recent declines in its market share.

According to Worldpanel figures for the 12 weeks to August, the company held an 8.5 per cent market share, making it the sixth-largest UK supermarket chain behind Tesco, Sainsbury’s, Asda, Aldi, and Lidl, which recently overtook it.

The promise will cover more than 500 weekly essentials, to ensure they can buy products at the same price or less than they would at rival stores.

The Bradford-based chain said it will guarantee low prices on fresh products including bananas, tomatoes and carrots, as well as staples such as bread, butter and chicken fillets.

It also extends to fresh lines across the retailer’s Market Street counters, such as its fishmongers and bakeries.

It comes two years after the supermarket giant first launched a price match against hundreds of Aldi and Lidl products as part of its fightback against the German discounters.

Alex Paver, customer and marketing director at Morrisons, said: “Customers shouldn’t have to choose between great prices and great quality – and at Morrisons, they don’t have to.

“Our unbeatable price commitment means customers can trust that the prices on these products simply won’t be beaten by Asda, Tesco, Sainsbury’s, Aldi or Lidl.

“And uniquely at Morrisons, that unbeatable value comes alongside the quality, freshness and expert service we’re famous for – from bread baked fresh in store to food prepared by our skilled Market Street colleagues.”

It comes days after accounts showed that Morrisons shed almost 5,000 jobs last year as part of efforts by the private equity-backed grocer to shore up its finances and turn around its performance.

Supermarket prices rose by 2.1 per cent in the four weeks to 9 August, down significantly on the 2.6 per cent the month before and the lowest rate since October 2024, figures from Worldpanel by Numerator show.

Of the major chains, Sainsbury’s was the strongest performer, with sales rising 3.5 per cent and its market share rising to 15.2 per cent from 15.1 per cent.

Morrisons was close behind with a 3.3 per cent rise in sales, followed by Tesco with 1.8 per cent and German discounter Aldi with 1.1 per cent.