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Government food price caps would be ‘preposterous and idiotic’, say supermarkets

Reports said the UK Treasury urged supermarkets to limit prices on items like eggs, bread and milk in exchange for easing some regulations. Supermarket leaders including M&S’s Stuart Machin and Asda’s Lord Rose rejected price caps as state control. Treasury ministers Dan Tomlinson and Lord Livermore said there is no mandatory cap, though talks continue. The BRC cited higher energy, commodity and policy costs; UK food inflation was 3.7% in April.

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