UK supermarkets have been urged to cap food prices following fears that the Iran war could worsen cost-of-living despite inflation falling.
The UK is said to have the most affordable grocery prices in Western Europe, but a cost-of-living squeeze might be on the way Cost-of-living fears are growing despite UK inflation falling back to its lowest level for more than a year, pushed by a drop in energy prices which has offset the skyrocketing fuel costs due to theIn exchange, supermarkets would be offered incentives like relaxing packaging policies and delaying potentially costly changes to healthy food rules, the Financial Times reports.
Food prices could go up due to the Iran war and blockade of the Strait of Hormuz, which has hit fuel and fertiliser supplies Helen Dickinson, the chief executive of the British Retail Consortium , said: ‘Rather than introduce 1970s style price controls and trying to force retailers to sell goods at a loss, the Government must focus on how it will reduce the public policy costs which are pushing up food prices in the first place. The Treasury is said to have asked supermarkets to guarantee that British farmers would not lose income from any prie caps, the FT reports.
Maldives diving instructor 'intentionally swam away' from cave where six died Reeves is expected to reveal a cost-of-living support package this week to help keep costs down for families, the Treasury said.said: ‘The war in Iran is not our war but one we will need to respond to, and the decisions I took in the‘We have the right economic plan, and to change course now would risk our economic stability and leave working people worse off.
‘We have already taken £117 off energy bills, frozen rail fares, and lifted the two-child limit, and over today and tomorrow I’ll set out the next phase of how we will support UK households. ’The latest Consumer Price Index, which measures the average change in prices paid by consumers over time, fell to 2.8% in April. The drop took analysts by surprise as the drop was expected to be 3%.
But the respite could be short-lived as inflation is set to surge back up because of the Iran was and the blockade of the Strait of Hormuz continuing to hamper fuel prices. Sarah HooperDonald Trump 'walks with alien' and 'blows up targets from space' in bizarre postsMystery Escape
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