The urgency of delivering on UK-EU cooperation in areas linked to food and hospitality prices has been highlighted by campaigners, after UK inflation was forecast to surge to the highest in the G7.
According to the International Monetary Fund (IMF) in its latest outlook report, the UK is set to see price inflation rise to the highest in the G7 in 2025 or 2026 - more sharply than expected in previous predictions.
It came as the influential economic body also increased its UK growth forecast for this year, but lowered its prediction for 2026 amid job market concerns.
Naomi Smith, chief executive of Best for Britain, said:
“This forecast of increased inflation linked to food and hospitality prices underscores the urgency of delivering in these areas of EU-UK cooperation set out in May.
“An SPS agreement with our largest market can cut both supermarket and catering costs, driving down prices for ordinary consumers.”