Rolling coverage of the latest economic and financial news, as food prices keep rising… but at a slower rate
MPs will hold a ‘crunch meeting’ with the UK supermarket industry today, my colleague Richard Partington writes.
Senior executives from Tesco, Sainsbury’s, Asda and Morrisons will be questioned over soaring prices on Tuesday by MPs on the cross-party business and trade committee, with a focus on their profit margins, competition in the supply chain and when shoppers can expect to see a significant fall in prices.
Ministers have explored the option of supermarkets adopting a voluntary price cap for the price of basic food items, but have insisted they would not impose limits on the industry.
