UK supermarkets urged to consider voluntary price caps on essential foods

Key points

• UK supermarkets have been asked by the government to consider freezing the prices of some essential foodstuffs to protect the public from inflation fuelled by the Middle East conflict.
• Retailers rejected the plan, criticising its potential cost amid rising taxes, fuel and energy costs and arguing it could push up prices for shoppers overall.
• One supermarket executive called the idea “completely mad”.
• Another said: “This is an unnecessary, unwanted and unjustified intervention in the market.” The Scottish party pledged to use its devolved public health powers to fix prices on 20 to 50 items such as bread, milk, cheese, eggs, rice and chicken because their rising cost was “impacting our nation’s nutrition”.
• Helen Dickinson, the chief executive of the British Retail Consortium trade body, which represents all the big supermarkets, said: “The UK has the most affordable grocery prices in western Europe thanks to the fierce competition between supermarkets.