UK government ready to act on competition watchdog's food and fuel price report

Britain's government said on Tuesday it would be ready to act when a Competition and Markets Authority (CMA) review of food and fuel pricing was ready.

"The Chancellor (finance minister) confirmed that the government stands ready to update pricing rules and guidance on the back of the CMA's review of unit pricing," said a statement issued by the Treasury following a meeting between finance minister Hunt and the competition watchdog.