Chancellor to raise high price concerns with food manufacturers

Food inflation is currently 19.2%

Chancellor Jeremy Hunt is meeting with food manufacturers today (23 May) to raise concerns about the high cost of food, and discuss ways to lower prices that have been rising at the fastest rate in a generation.

He will also meet the Competition and Markets Authority to discuss its investigations into the fuel and grocery markets, including possible action it could take if it is dissatisfied with the level of competition in the sector, which could be allowing higher-than-necessary prices. While headline inflation fell by 0.3% last month, food inflation grew to 19.2%.  BoE governor Bailey signals further rate hikes in face of inflation uncertainty The chancellor will seek to "better understand the challenges firms are grappling with as inflated prices continue to plague the economy", and as...