Food inflation ‘is too high’, PM says, as SNP warn of ‘cost-of-greed crisis’

Food inflation “is too high”, the Prime Minister has said, as the SNP warned of a “cost-of-greed crisis”.

SNP Westminster leader Stephen Flynn listed the increases in food staples as he challenged Rishi Sunak on the issue during Prime Minister’s Questions in the Commons.

Mr Flynn said: “We learnt today that the price of milk, cheese and eggs are up 29%, the price of pasta up 27%, the price of a loaf of bread 18%. Does the Prime Minster agree that this is no longer just a cost-of-living crisis, this is a cost-of-greed crisis?

Mr Sunak told MPs the Government is “doing everything we can to help consumers manage the challenges of the cost of living”.

He replied: “It was welcome that inflation has fallen today but, as the Chancellor said, we should not be complacent because there is more work to do.

“(He) is right to highlight the impact of food inflation, which is too high – common here and levels that we’ve seen in other European countries like Sweden and Germany.

“We are providing significant support to help people with the cost of living and the Chancellor has met with companies in the supermarket and food supply chain to make sure that they are doing everything they can to bring prices down.”

Mr Flynn warned that food inflation “remains at (a) near 45-year high”, adding that working families “can’t afford to wait much longer”.

He said: “Let’s get real because food inflation remains at (a) near 45-year high. Now, yesterday the Treasury indicated that the Chancellor stands ready to act but his actions seem to be predicated on the outcome of a review by the CMA (Competition and Markets Authority).

“So, can the Prime Minister perhaps enlighten us, when does he expect that review to conclude, because working families can’t afford to wait much longer.”

Mr Sunak replied: “(He) will know that the CMA is independent of Government but the Chancellor did meet with them recently to discuss the situation in the grocery industry and it will be for the CMA to make decisions on that.

“We’re doing everything we can to help consumers manage the challenges of the cost of living, but if the SNP wanted to do their bit maybe they could reconsider their deposit return scheme, which, it’s very clear what people have said … it will reduce choice and increase prices for consumers.”