Supermarket giant Tesco has become the latest grocer to wade into the price war, unveiling sweeping cuts to customers through Clubcard and its Aldi Price Match.

Tesco announced today that it would be rolling out “hundreds of exclusive deals on familiar branded and own-brand products” for its Clubcard members from today, as well as extending its Aldi Price Match on a further 500-odd items across its range. 

The grocer said that “with value for money becoming more important” to consumers, it was seeking to “help those customers who want to spend less time shopping around for offers”. 

The retailer said the new “Clubcard Prices” would allow customers to “save up to 50% on some of the nation’s favourite brands”. Tesco said the extension of its Aldi Price Match reflected the “significant investments that have been made in the price and quality of the great-value Exclusively at Tesco brands”.

Tesco’s chief customer officer Alessandra Bellini said: “We know that great value matters to customers more than ever before – that’s why, to reward our loyal customers, we’re offering everyone with a Tesco Clubcard access to hundreds of exclusive deals.

“We’re also offering everyday low prices on hundreds of products, so that customers can get clear and consistent prices on the products they buy regularly.”

With the country feeling the pinch of the worst recession in living memory, Tesco has not been alone among the grocers in slashing prices. 

Only last week, big-four competitor Morrisons unveiled price cuts to 400 items across its range, with chief executive David Potts promising more price reductions in the second half of the year. 

Asda, too, has reintroduced its Asda Price and “pocket tap jingle” as part of a £100m investment in pricing that it unveiled on September 2.