Rachel Reeves' list of 'essentials' to benefit from tariff cuts

See more Daily Mail on Google - save us as a Preferred SourceBy FREYA BARNES, NEWS REPORTER Published: 08:40 BST, 27 May 2026 | Updated: 10:43 BST, 27 May 2026

Rachel Reeves has released a list of 125 'everyday essentials', such as avocados, quinoa and oatmilk, that will lower in price after her tariff cuts which are aimed at easing the cost of living crisis.The Government published the list, which also includes olive oil, chocolate and baked beans, as part of the Chancellor's 'Great British Summer Savings' scheme.The move will be consulted on by the Treasury and the survey will open on Wednesday, and run until June 24.It will also consult on whether the suspension of tariffs on certain fertilisers could help farmers grappling with rising prices caused by the closure of the Strait of Hormuz.Ms Reeves said: 'The war in Iran isn't our war, but one we will need to respond to, and my priority is keeping prices down for households and businesses.'That's why we're freezing fuel duty, increasing the mileage rate for the first time in 15 years and slashed VAT temporarily this summer to help reduce the cost of days out.'The package was announced by Ms Reeves last week, alongside a series of other measures. Rachel Reeves has released a list of 125 'everyday essentials' that will lower in price after her tariff cuts which are aimed at easing the cost of living crisisThey include the uprating of tax-free mileage last week for the first time since 2011. The rate will rise from 45p per mile for the first 10,000 miles to 55p.This will be backdated to April 2026. The Treasury has estimated that three million workers, including one million self-employed people, will benefit.Ms Reeves said fuel duty will be frozen until the end of the year, postponing a 5p rise which was due to begin in September. Relief was also announced for red diesel.A cut to VAT on children's meals in restaurants, and admission to days out was announced by Ms Reeves.It comes as grocery price inflation slowed again this month as consumers brace themselves for the fallout from the Middle East crisis to reach food costs.Supermarket prices were 3.1 per cent higher than a year ago in May, down from April's 3.8 per cent and March's 4.3 per cent, figures from Worldpanel by Numerator show.Shoppers leant on promotions to keep costs down, with 30.3 per cent of sales involving a deal last month, up from 28.4 per cent a year ago.Spending on full price items was virtually flat, growing by only 0.1 per cent.Ocado continued to be the fastest growing grocer with sales up by 10.2 per cent year on year, although this is the slowest recorded rate of growth for the online specialist since July 2024.Discounter Lidl reached a new record high market share of 8.6 per cent over the 12 weeks to May 17, securing its position as Britain's fifth largest grocer behind Tesco, Sainsbury's, Asda and Aldi.Sales at Tesco increased by 3.2 per cent, with market share rising to 28.2 per cent, while Sainsbury's sales grew by 3.1 per cent to achieve a 15.2 per cent share.Waitrose sales were up 3 per cent and Marks & Spencer saw its grocery sales increase over the quarter by 9.3 per cent. List of everyday essentials that will be cheaper after tariff cuts GarlicGherkinsAuberginesSweet peppersOther peppers (capsicum/pimenta)Olives (fresh/chilled)Olives (for oil production)Olives (frozen)Plantains (fresh and dried)Bananas (fresh and dried)LimesCitrus fruits (various)AvocadosFresh figsDried figsOther fresh fruitsFrozen fruitsDried apricotsDried applesDried peaches/nectarinesDried pearsDried papayaMixed dried fruitMixed nutsMixed fruit and nutsGreen teaBuckwheatFonioQuinoaOlive oil (extra virgin)Olive oil (virgin)Jams and marmaladesPreserved citrus fruitsMixed preserved fruit and nutsTomato ketchupTomato saucesSoups and brothsNon-alcoholic beveragesSee more Daily Mail on Google - save us as a Preferred Source MargarineMixed fats and oilsVegetable oilsChewing gumLiquorice productsWhite chocolateMarzipan and pastesThroat pastillesSugar confectioneryBoiled sweetsToffees and caramelsSugar tabletsCocoa pasteCocoa powderChocolate (bulk and retail)Chocolate barsChocolate with fruit, nuts or cerealChocolate spreadsChocolate drink preparationsCouscousCrispbreadGingerbreadBiscuitsWaffles and wafersRusksToasted bread productsBreadPizzas and quichesPickled peppersPrepared vegetablesCrispsProcessed potatoesBaked beansPreserved beansPreserved vegetablesPreserved tropical fruitCandied fruitPlant-based drinks See more Daily Mail on Google - save us as a Preferred Source