Cheese pasties, pizzas and sausage rolls are becoming the meal of choice for bargain-hunting consumers, in a sign that the days of £5 ciabatta sandwiches and luxury chocolate could be over.

Along with Domino’s, Greggs , the high street baker, has emerged as a rare winner from the consumer downturn. In a recent trading update, the group defied the gloom by posting a 5.3 per cent increase in sales in the four weeks over Christmas.