British accountant and executive, CEO of the British Retail Consortium since 2013
The Middle East conflict has pushed up fuel, fertiliser and packaging costs, feeding higher food prices globally. Retailers warn inflation is likely to continue if the war persists, while farmers face rising input costs and potential production cuts.
The government has signalled it is considering voluntary price caps on essential groceries and is offering incentives to supermarkets, including easing packaging rules and delaying healthy-food changes. The moves follow Labour-backed measures and CMA reforms, with ministers saying they want to keep costs down for families amid ongoing inflation and global supply pressures.
The Treasury has sparked debate by discussing voluntary price caps on essentials, with M&S and other retailers pushing back. Ministers deny plans for mandatory caps while signaling potential measures to ease costs, amid ongoing inflation and competition in grocery markets.
The government has moved up the removal of the de minimis import relief to October 2028, after discussions with industry. Retailers call the timeline still too slow, arguing it leaves UK high streets at a competitive disadvantage to foreign online sellers.