Tesco, Asda, Morrisons and Sainsbury’s warned shoppers buying ‘milk, eggs or cheese’

Supermarket shoppers buying milk, cheese and eggs have been warned. Despite slowing inflation in Britain, supermarket shoppers at the likes of Tesco, Asda, Morrisons and Sainsbury’s have been warned that some items will not be eased.

Foods where inflation has not yet abated include milk, oils and fats, as well as cheese and eggs. Foods whose prices have fallen in the past year include bread and cereals, as well as vegetables and sugar, jams and syrups.

Chocolate and confectionery are also listed. Today’s figure marks the first time in almost three years that inflation has fallen back to the Bank of England’s target, since July 2021, after the cost of living crisis sent price rises to a 40-year high .

READ MORE Ministry of Foreign Affairs ‘changes’ the travel advice for Spain, Turkey and Greece due to ‘red alert’

Would you like to receive the latest news and breaking news via email to your inbox? Register here, it’s free.

In a boost to the Bank of England’s efforts to bring down the consumer price index, the Office for National Statistics (ONS) said price pressures eased between April and May. Prime Minister Rishi Sunak said the fall in inflation was ‘great news’ and meant consumer prices were rising more slowly than in Germany, France and the US.

“When I became Prime Minister, inflation was 11%. But we took bold action. We stuck to a clear plan and that is why the economy has now turned around,” he said. Rachel Reeves, Labour’s shadow chancellor, said inflation under the Conservatives had left “working people worse off”. She added: “Prices in shops have risen, mortgage costs are higher and taxes are at their highest level in 70 years.”

At the Central Bank’s latest interest rate announcement, the Monetary Policy Committee said it wanted to see inflation low and “stay low.” Andrew Bailey, governor of the Bank of England, said at the time: “We need to see more evidence that inflation will remain low before we can cut rates. I am optimistic that things are moving in the right direction.”

Paula Bejarano Carbo, economist at the National Institute of Economic and Social Research, said: “As today’s data suggests core inflation remains high, this recovery could be sharper than expected. As a result, we expect the MPC to exercise caution and maintain interest rates at its upcoming meeting, despite today’s encouraging decline in interest rates.”