Jan 10, 2018
Sainsbury's boss says food price rise should ease this year
Shoppers should see the pace at which food prices are rising start to come down in the next six to nine months, the boss of Sainsbury's has predicted. He made the prediction as Sainsbury's reported rising food sales in the last three months, including over Christmas. The UK's second largest supermarket chain said grocery sales rose 2.3%, helped by higher food prices. Food prices have gone up, as the drop in the value of the pound after the Brexit vote made imports more expensive. "We've done everything we can as a business to mitigate that but we can't get away from the fact that food prices are going up," Mr Coupe told the BBC. But with that effect wearing off, food price inflation should "Gradually reduce over the next six to nine months", he said.
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