Jeremy Hunt threatens new laws to lower the price of food in supermarkets
They said their main costs remained energy and labour, providing some hope they may be able to cut prices as wholesale energy prices fall from record highs last year.
The company said that bank holiday weekends including the celebration of the coronation had helped fuel a spike in prices.told MPs on the Commons Treasury committee that even as wholesale food prices start to fall it may take time for retailers to see the benefitsHe said: “What is possibly underestimated is the degree to which food producers have purchased more forward, in terms of raw material supplies, than they would usually do. In other words they have locked in higher prices for longer.
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