State watchdog 'strongly advises' against price controls, says Varadkar

It comes as Tesco Ireland announced that it would cut the price of its own brand bread by 10c

Taoiseach Leo Varadkar said the advice also points out that plans for price controls in Spain were abandoned because it would have an impact on smaller retailers. Picture: Gareth Chaney/ Collins Photos

Taoiseach Leo Varadkar has said the State’s competition watchdog has “strongly advised” against introducing price controls.

It comes as junior minister Neale Richmond has called an emergency meeting and will hold discussions with the retail forum today amid soaring food and grocery costs.