The boss of M&S has dubbed government proposals to urge supermarkets to cap the prices of foods as “completely preposterous”.

The boss of M&S has dubbed government proposals to urge supermarkets to cap the prices of foods as “completely preposterous”.

It comes as new figures show CPI fell to 2.8 per cent

A Government minister denied plans for price caps but confirmed that it is holding talks with supermarkets amid concerns over rising inflation.

A government minister denied any concrete plans for price caps but confirmed ongoing discussions with supermarkets

Marks & Spencer, the Bank of England and the CBI hit out at the Chancellor's suggestion that stores limit the price of essentials such as eggs, bread and milk.

The major supermarket has hit back at the government's call to freeze prices of everyday essentials as other retail leaders have slammed the idea as "idiotic" and "dangerous"