UK retailers calling on suppliers to lower prices despite slowing inflation

The rate of grocery inflation in the U.K. continued to fall in June, but retailers are still urging suppliers to lower prices so consumers, fatigued by 15 months of overall inflation hovering just under a hefty 10 percent, can start to realize some savings.

After a two-month review into “historically high levels” of food inflation, the Competition and Markets Authority (CMA) said on 19 July that high food prices are not the fault of supermarkets, per JustFood. At the same time, the authority suggested that rules on unit pricing “should be tightened, and retailers must comply to help shoppers compare prices easily,” CMA said.

Tesco is one retailer calling on its suppliers to lower prices so it can pass savings on to shoppers, executives said in a recent presentation, per The Guardian. The massive grocery chain said the market is moving from “inflation to deflation,” and it wants to get out in front of rival supermarkets by cutting prices more aggressively.

The U.K. government is also getting involved in ... 

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