The affordability crisis is about more than prices

Governments around the world are struggling to devise a sensible approach to managing inflation (File/AFP)

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Governments around the world are struggling to devise a sensible approach to managing inflation and disruptions to production and the supply of basic goods. The UK Treasury, for example, was last week reported to have issued a proposal to encourage supermarkets to cap prices on essentials (such as bread and milk) in exchange for loosened packaging and environmental regulations.