Grocery prices in Europe have been on the rise.
Britain — where food inflation has reached 45-year highs — is discussing a similar move.
In comparison, U.S. food prices rose 7.7% in April from a year earlier, 8.2% in Japan and 9.1% in Canada.
Such controls could actually make food inflation worse by increasing demand from shoppers but discouraging new supply, he said.
"The current food price shock does not warrant such intervention," Shearing said.
Persons:
—, Furio Truzzi, Borey, Helen Barnard, Anna Sjovorr, hasn't, that's, Neil Shearing, Shearing, SWG pollsters, Carlo Compellini, Marie Antoinette, Roberto Dipiazza
Organizations:
Service, Shoppers, European Union, Trussell, European Central Bank, U.S . Federal, Capital Economics
Locations:
Europe, Rome, U.S, Japan, Ukraine, Paris, Britain, Hungary, Croatia, Spain, United Kingdom, London, Canada, Trieste, Italian