Prime Minister Rishi Sunak has set a 2023 target to halve overall inflation but the goal has been undermined as inflation has remained stubbornly high, particularly food inflation.
Overall UK consumer price inflation ran at 8.7% in April, the most recent official data showed, while food and drink inflation was 19.1%, just below a 46-year high.
Food retailers have said they expect prices to rise in 2023 overall but with the rate of inflation declining through the year.
Last week the French government secured a pledge from 75 top food companies to cut prices on hundreds of products.
Last month, British finance minister Jeremy Hunt met food manufacturers to raise concerns about the surge in food prices, but no formal price controls were proposed.
Persons:
cornflakes, Rishi Sunak, Clive Black, Jeremy Hunt, Kantar, James Davey, Sarah Young, Mark Potter
Organizations:
Grocers, Asda, Tesco, Foods, Waitrose, Shore Capital, Thomson