A spokesperson for the Prime Minister said the Government wanted supermarkets to “rightly” pass on savings they have made with the fall in global energy costs.

He said: “I think that is what the public would expect and they will vote with their feet if that is not the case.”

The reductions are part of Sainsbury’s promise to keep prices low on the high-volume products that make the biggest difference to customers at a time of stubborn inflation.

Official figures last week showed that food inflation slowed from 19.1 percent in April to 18.4 percent in May after hitting a 45-year high in March.

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Sainsbury’s revealed that more than 50 household basics will drop in price from this morning – with more cuts promised over the summer. Among the best cut price items are corn flakes, pasta, spaghetti, chicken and rice.

Food commercial director at Sainsbury’s Rhian Bartlett said: “As the cost-of-living challenges continue, we remain relentlessly focused on lowering prices on the essential products that make the biggest difference to our customers.”

The Bank of England suggested last week that some retailers are jacking up prices or failing to pass on lower costs to consumers as a way of increasing their profit margins.

Chancellor Jeremy Hunt is to meet the Competition and Markets Authority (CMA) and the watchdogs for the energy, water and communications sectors on Wednesday to ask if there is a profiteering problem in their sectors.

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