- Lord Stuart Rose, a former Asda boss and member of the Lords, has criticised reported government plans for price caps on essential groceries, labelling them "idiotic" and "unworkable".
- He warned that such measures would "backfire" on the government and suggested they smacked of "state control".
- Reports indicate the Treasury is urging supermarkets to limit food price increases, fearing the Iran war will exacerbate the cost of living crisis for households.
- Treasury minister Dan Tomlinson has denied the government is considering imposing price caps, stating they are exploring alternative ways to support households.
- New ONS data shows CPI inflation dropped to 2.8 per cent, though experts anticipate this progress will likely be halted by the ongoing conflict in Iran.
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