Whatever happened to the supermarket price war? The latest inflation figures showed no signs of it. Food prices are surging. They recorded an ugly 4.4 per cent rise over the year to May, the sharpest increase in more than a year. That compares with the previous month’s figure of a 3.4 per cent annual rise.
This will come as a bitter blow, particularly to low-income households, for whom food takes up a disproportionate chunk of the household budget. It also raises a question: were the supermarkets pulling a fast one on us with all their talk about pumping money into lowering their prices a few short months ago? Was the supposed price war just smoke and mirrors? Or is this down to Rachel “we won’t raise taxes on working people” Reeves?
