
The British government is considering plans to cap the retail prices of staples such as bread and milk, The Telegraph reports, as the cost of such foods continues to rise in double digits.
However, when asked about such price controls, Health Minister Steve Barclay told the BBC today Sunday he “doesn’t get it.”
Prime Minister Rishi Sunak’s office is in talks with supermarkets about a deal similar to the one in France, where big retailers charge “the lowest amount possible,” according to the Telegraph.
“I know the government is working constructively with supermarkets on how we are tackling the very real issues of food inflation and cost of living, and we are doing it in a way that also pays close attention to the impact on suppliers,” said the health minister. . told the BBC.
Record food inflation
Britain has the highest rate of inflation in Western Europe for food, with prices up over 19% over the past year, the worst rise since the 1970s. Household budgets have also been hit by rising energy prices, in part due to the war in Ukraine. .
Major supermarkets such as Tesco and Sainsbury’s have announced price cuts on some food items in recent weeks.
The reaction of supermarket owners
The British Retail Consortium (BRC), which represents all major supermarkets, blamed the government’s new rules for many of the costs and urged it to simplify the rules “rather than recreate the price controls of the 1970s”.
“This will not affect prices. High food prices are a direct result of rising energy, transport and labor costs, as well as higher prices paid to food producers and farmers,” said BRC’s Andrew Opie.
Source: Reuters.
Source: Kathimerini

Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.