Asda has revealed that it will be price matching Aldi and Lidl on almost 300 grocery items in its supermarkets.

In total, it will match the prices of 287 items which means five items have gone up in price, 58 are unchanged, and 224 have decreased by an average of 17%.

Grocery items that will see a decrease in price as a result of this move include breakfast cereals, fruit and fresh meat.

For example, an 80-pack of Asda Golden tea bags, which used to cost £2, will now be £1.39, the PA News agency reports.

The Bolton News: Overall 244 items from Asda have decreased by an average of 17 per centOverall 244 items from Asda have decreased by an average of 17 per cent (Image: PA)

Asda said it will check the prices of comparable products sold in Aldi and Lidl twice a week and match its price to the cheapest of the two.

The price match will be done on a proportional basis if there are no equally sized packets in the rival stores.

Aldi and Lidl price match launched to help save customers 'both time and money'

Speaking on the move chief customer officer David Hill said: “Asda has over 50 years heritage as the customer champion, and we understand we have an important role to play in local communities to help families get the most from their budget.

“We have launched Aldi and Lidl Price Match to help them save both time and money.”

The plan excludes multi-buy offers and prices which are only available for members, the supermarket added.

In response to Asda's plan, Lidl said in a statement: "Giving all households access to great food at the lowest prices is a commitment we have kept for almost 30 years now.

"This commitment not only applies to our full range of products, but to every single Lidl store across the country too."

Traditional major supermarkets such as Asda have been under pressure from the likes of Aldi and Lidl who have made their name offering lower prices, so have picked up a decent amount of market share.

Asda still has the third largest share of the grocery market, at 13.6%, according to the most recent 12-week data from Kantar whilst Aldi had 9.3% and Lidl had 7.7%.

However, 10 years ago Asda had a 16.9% share of the market while Aldi had 4% and Lidl had 3.1%.