Asda, the UK arm of Wal-Mart Stores, has launched a price promotion marketing campaign, the Asda Price Lock.

The move, which comes as the latest salvo in an increasingly price-focused UK market, will see Asda “price lock” everyday essentials such as bread, milk and eggs, for a 12-week period.

The company has also launched a “budget day TV” ad to conincide with the announcement of the UK chancellor’s budget for the coming year.

The campaign follows Tesco‘s announcement it is extending its Price Promise promotion to the tills.

Yesterday, Sainsbury‘s chief executive Justin King defended the retailer’s Brand Match comparison scheme. He said Sainsbury’s would not, like Tesco, be including own-label products in its comparisons.