Food inflation: Treasury minister meets supermarket representatives

With UK food price inflation at 46-year high, Treasury minister John Glen has on Thursday met supermarket representatives to discuss food prices.

Glen, the chief secretary to the treasury, listened to the views of the sector about the drivers of food inflation and asked the industry to continue to engage with senior government ministers on the matter and its impact on consumers.

“The government understands the concern among the British public about the current level of food prices and their impact on household budgets, which is why halving inflation this year is a top priority,” the Treasury said in a statement.

Meanwhile, the Environment, Food and Rural Affairs Committee of the House of Commons has launched an investigation on Friday into the fairness of the country’s food supply chain.

Official data showed UK food prices were 19.1 per cent higher in March than a year earlier, the biggest such rise since August 1977, while in April, grocery inflation was 17.3 per cent, according to industry data.

The Bank of England said on Thursday it expected overall inflation – which remained above 10 per cent in March – to fall more slowly than it had hoped, mostly due to unexpectedly big and persistent rises in food prices.