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Supermarkets are likely to follow Tesco in slashing the price of certain products.

The fresh supermarket price-war comes as the company announced it has cut the price of around 700 items.

Tesco says the cost of these products will decrease by around 10 per cent.

Personal Finance Editor with the Irish Independent Charlie Weston says he expects others to follow suit today:

“Some of the reductions are small, a lot are big. About a third of them are own brand and the rest are brands people are familiar with.

Watch this space kind of thing; I expect as early as today you’ll probably see a reaction from the likes of Dunnes or SuperValu, Aldi, Lidl, Centra – they won’t want to be losing market share here.

“It’s a cut-throat competitive business and they all watch each other like a hawk.”