Chancellor meets UK supermarket bosses to discuss cost of living

Rachel Reeves will address concerns about price rises and shortages with retailers as energy costs surge

The bosses of the UK’s biggest supermarkets are to meet the chancellor on Wednesday as the government seeks to gauge the extent of potential price rises and shortages of household essentials amid a surge in energy, fuel and fertiliser costs.

Rachel Reeves is meeting the bosses of Sainsbury’s, Tesco and Morrisons as concerns rise about the potential impact on the cost of living – including higher food prices – as a result of the Middle East conflict.