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

British supermarkets are set to cap prices on everyday essentials like eggs, bread and milk under bold new government proposals - but ministers say this would not be a return to…

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

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyleLord Stuart Rose, a former Asda boss and…

It is difficult to think of a more idiotic, wrong-headed and misguided mechanism for tackling inflation than a price cap

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

"There are certainly plenty of people in this govt whose understanding of economics is so poor that they might consider it a good idea."

Grocery bigwigs have branded reports of price caps on essential food 'idiotic' but others say action is needed to help millions of cost of living hammered households

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