Ten Things You Need to Know Today: 30 May 2023

The Week’s daily digest of the news agenda, published at 8am

1. Hopes rise as food inflation falls

Food inflation fell in May, raising hopes that the rapid increase in grocery prices may have peaked. The British Retail Consortium said annual food inflation eased this month from 15.7% to 15.4%. Fresh-food inflation, which had soared after dramatic increases in the price of sausages, milk, cheese and eggs, fell from 17.8% to 17.2%. Over the weekend, the Sunday Telegraph reported that the government is considering asking supermarkets to voluntarily cap prices on food items to help with the cost of living. But officials have said the government has no plans to cap the price of food, and that any resulting scheme would not be mandatory.

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