Waitrose steps up price war with Tesco

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Waitrose has announced today that it's stepping up its Price Commitment. Since September 2010 it has matched Tesco prices on 1,000 products. Now it is extending this to 7,000 items. It's just the latest volley in the ongoing supermarket price war, but a rare one from a supermarket that sells itself on quality rather than budget prices.

So is there a new world order, is Waitrose going downmarket?