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.