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31-05-2023, 08:48 AM
Jonathan Eyal
Global Affairs Correspondent
UPDATED 8 HOURS AGO
LONDON - The British government is working on a voluntary agreement with food sellers to cap prices of essential items such as bread, eggs and milk in an effort to ease the financial squeeze on poorer members of society.
......
With food and drink prices rising at the fastest pace in half a century, the British move mirrors steps already taken by other European countries, some of which have imposed mandatory price controls.
However, London’s latest initiative was met with fierce opposition from retailers, with the British Retail Consortium – representing the country’s major supermarkets – claiming that the plan “will not make a jot of difference” to high food prices.
Throughout Europe, the climb in food prices remains extraordinary.
Meat and fruit prices have risen by around 12 per cent over the past year, roughly in line with inflation. But prices of bread and vegetables were up by about 17 per cent; milk, eggs and cheese by about 25 per cent; and sugar by a whopping 55 per cent compared with prices a year ago.
https://www.straitstimes.com/world/europ...-retailers
Global Affairs Correspondent
UPDATED 8 HOURS AGO
LONDON - The British government is working on a voluntary agreement with food sellers to cap prices of essential items such as bread, eggs and milk in an effort to ease the financial squeeze on poorer members of society.
......
With food and drink prices rising at the fastest pace in half a century, the British move mirrors steps already taken by other European countries, some of which have imposed mandatory price controls.
However, London’s latest initiative was met with fierce opposition from retailers, with the British Retail Consortium – representing the country’s major supermarkets – claiming that the plan “will not make a jot of difference” to high food prices.
Throughout Europe, the climb in food prices remains extraordinary.
Meat and fruit prices have risen by around 12 per cent over the past year, roughly in line with inflation. But prices of bread and vegetables were up by about 17 per cent; milk, eggs and cheese by about 25 per cent; and sugar by a whopping 55 per cent compared with prices a year ago.
https://www.straitstimes.com/world/europ...-retailers
