'Eye-watering' cost of regulation to blame for surging food prices, Treasury told
The TelegraphSupermarket chiefs have blamed meddling ministers for contributing to a surge in food prices after they imposed "eye-watering" costs on the industry. Senior directors from Britain's biggest grocers told John Glen, chief secretary to the Treasury, that onerous regulation covering everything from recycling to border checks was making the weekly shop more expensive. Supermarket executives suggested to the Treasury that food inflation was now “past the peak” and prices would begin to fall in the coming months, despite a warning from the Bank of England that rises would continue for the rest of 2023. However, grocery directors blamed government policies for hampering efforts to rein in prices, with one figure describing the extra costs as "eye-watering".
History of this topic
CMA to investigate possible ‘weakening of competition’ in food and fuel prices
The Independent
Food prices set to come back down soon, supermarket chiefs promise
The IndependentDiscover Related
