PM 'drawing up plans for supermarkets to introduce price caps' for staples such ... trends now

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Rishi Sunak is considering plans for supermarkets to introduce price caps on basic products such as bread and milk, it has emerged.

There are worries about the continued impact of high food prices on households as the cost-of-living crisis drags on.

This week's latest figures showed a drop in the headline inflation rate - at 8.7 per cent in April compared with 10.1 per cent in March - but food inflation remains sky-high.

It was found to be at 19.1 per cent last month, which was only just down from 19.2 per cent in March and close to the highest rate for more than 45 years.

According to the Sunday Telegraph, the Prime Minister is now mulling proposals for retailers to introduce voluntary price caps on some essential staples in order to tackle 'resilient' food inflation.

Such a move would copy action taken in France where stores have struck an agreement with ministers to offer a selection of items at the lowest possible price.