Homes and Property | Home PageAsda in new price attack on TescoSteve Hawkes|Evening Standard13 April 2012SUPERMARKETS giant Asda is launching another salvo in its price war with Tesco by pledging to slash more than £50m from shopping bills in the coming months.The move comes as the British Retail Consortium (BRC) shows that fierce competition on the High Street pushed prices down last month, despite a raft of inflationary pressure.Asda, owned by Wal-Mart, wants to wipe at least £53m from prices over the third quarter of the year.The new attack follows £175m of price cuts by Asda so far this year. Its typical shopping basket of goods now costs 14% less than when it launched its Rollback price campaign in 1997.The BRC's data shows that shop prices eased 0.06% in June compared with May, despite what director general Kevin Hawkins called 'inflationary pressures outside retailers' control'. Year-on-year, prices rose 0.74%.Hawkins said the low levels of retail inflation showed the Bank of England should wait before it 'makes another unjustified and damaging rise in interest rates'.MORE ABOUTInflationInterest RatesRetailWal-Mart