The Chancellor is due to meet the watchdogs on Wednesday to ask them to reveal whether companies are failing to pass on lower costs to consumers in prices on the shelves.
The meeting with the Competition and Markets Authority, and the energy , water and communications regulators comes after Mr Hunt and Prime Minister Rishi Sunakdespite falling energy and supply chain costs. It came as Mr Sunak urged cash-strapped Britons to “hold our nerve” with interest rate hikes as he stressed “there is no alternative” to stamping out inflation despite calls from some Conservative MPs to introduce mortgage relief and criticism of the Bank of England.
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