Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps the Government is taking to reduce inflation in the prices of food.

The Government has announced a Food Inflation Gateway to assess and monitor regulation that could add to food prices. This will improve coordination and give food businesses a clear line of sight on upcoming regulatory changes, helping to keep costs down

The Government is also negotiating an agri-food agreement with the EU to reduce trade frictions, which is expected to save businesses up to £200 per fresh food shipment, helping to limit cost pressures across supply chains.

In addition, supermarkets will see a reduction in their total business rates bills in 2026/27 compared with 2025/26, and this will be kept under review at the next revaluation. The Office for Budget Responsibility (OBR) does not expect changes in business rates to have a material impact on food inflation.

Overall, the OBR’s forecast shows government policy will reduce CPI inflation by 0.4 percentage points in 2026/27. This is the biggest near-term reduction in inflation due to government policy ever forecast by the OBR at a single fiscal event, outside of a crisis.