Sainsbury’s is the latest in the glut of supermarkets to slash the price of its loaves in an ongoing “race to the bottom”.

It has cut 30p off the price of specified 800g loaves until 16 September, taking the price to just £1. Customers will make the saving on all in-store bakery loaves of that size, excluding premium own brand Taste the Difference and So Organic loaves.

In April The Co-operative launched a new range of 75p own-label 800g loaves as part of its new Value for Money campaign. Just before that, Tesco revealed it was cutting the price of an 800g wholemeal loaf from 90p to 75p, while similarly Asda reduced the price of its own-brand wholemeal loaf from 85p to 79p.

It was labelled “a race to the bottom” at the time by Chris Young, coordinator of the Real Bread Campaign.