UK watchdogs agree on ‘action plan’ to prevent consumers being ripped off

Measures are aimed at preventing companies using rampant inflation to hike prices during cost of living crisis

Britain's watchdogs have agreed to a suite of measures aimed at protecting consumers from being ripped off by companies during the cost of living crisis, after a meeting with the chancellor.

Jeremy Hunt said the action plan" agreed to support consumers would ensure they are treated fairly" amid concerns over greedflation - companies using rampant inflation as a cover to hike prices and boost profit margins.