Reports say the scheme will be on a voluntary basis - and that retailers will be able to choose which items they charge the lowest amount for.
Plans to encourage supermarkets to introduce voluntary price caps on food staples in a bid to help with the cost of living crisis are being drawn up by Downing Street, according to reports.
The scheme would aim to get retailers charging the lowest possible amount for some basic products like milk and bread, the Sunday Telegraph reported. A Number 10 source said the plans are at"drawing board stage" and would not involve government-imposed price controls. A Treasury source told the Sunday Telegraph:"Food inflation is much more resilient and difficult to get rid of than we anticipated."
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