I think UBI without regulations on pricing will result in inflation that will negate the benefits of UBI.

Regulating prices will have unintended consequences (outside of a specific set of goods).

Perhaps the Govt needs to take over the provisioning of these basics (production and distribution) and anything outside the basics will be market driven.

I know this has been tried in the past and has failed miserably. But, we now have better ways to track these things. So, maybe time to give it another try?