Asda has thrown down the gauntlet to its rivals promising its customers that it will be 10% cheaper than its competitors.

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From today, customers can expect Asda to be 10% cheaper than all its major rivals. The move will be reflected in its Asda Price Guarantee, which allows shoppers to check that their basket of groceries was cheaper than its rivals. If it isn’t cheapest, it will refund the difference via a voucher.

The data is checked by independent price checker website

Asda chief executive Andy Clarke said: “Our customers place their trust in us to always have the lowest prices. But from today our price promise is backed by a copper-bottomed guarantee – if the basket of food you buy in our stores is not at least 10% cheaper than each of our major rivals, we’ll put our hand in our pocket and give you back the difference.”

Asda said it has invested significantly in lowering the price of thousands of products in the run up to today’s launch, and a further 3,000 will be rolled back throughout January.

A TV campaign for the move will break on Friday.