Retail bosses are due to meet the Prime Minister on Tuesday for crunch talks, after BoE governor Andrew Bailey blamed them for causing the very big inflationary shock behind the latest interest rate hike.
Supermarkets have told the government that food prices have peaked in the UK and that shoppers should start to see a fall in price in the coming months.
The ‘pain’ of the cost of living crisis could be worse and successive interest rate rises are showing ‘some success,’ the chairman of NatWest has told LBC.
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