The Chancellor hopes that prices in supermarkets will start to come down over the coming months
than they were a year ago – with the poor suffering most, because they tend to spend a higher proportion of their income on food.. He has summoned farmers, food manufacturers and supermarkets to Downing Street for talks, and promised to back up the competition watchdog if it finds evidence of wrongdoing.surge in food prices
Food suppliers and retailers are locked into long-term contracts with their suppliers. This explains why the cost of groceries did not start to rise significantly until well after energy prices began to soar – but it also means that they will be slower to come down again.
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