Commission should investigate supermarket food price increases

MEPs believe supermarket mark-ups are outstripping commodity price rises

Brussels 23rd October — Conservatives are calling on the European Commission to investigate food price increases, as consumers face cost hikes of 30 to 40 per cent in their weekly shopping bills despite just a 10 per cent rise in wheat prices.

The cost of wheat amounts to only 10 per cent of a loaf of bread and five per cent of a French baguette, yet shoppers are being hit by substantial price rises on these products and many others at the till.

Conservatives have co-sponsored a resolution in the European Parliament on the matter, which will be debated in Strasbourg today.

Sir Robert says:

“Food prices will naturally rise and fall in the marketplace, but we are concerned by the massive discrepancy between the relative small increase in the price of wheat and the massive increase in supermarket prices.

“Consumers and farmers are the victims of food price hikes. For the first time in 25 years, food security is becoming an issue again. The European Union must take action to guarantee food supplies, ensure pricing at supermarkets is competitive, and keep prices down for the most vulnerable consumers for whom food is a big part of their household budget.”

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