Sep 9, 2021

Driver shortage will raise prices, warns Morrisons

Supermarket chain Morrisons has said it expects the UK's lorry driver shortage to stoke inflation during the rest of this year. Chief executive David Potts indicated HGV drivers should be eligible for Skilled Worker visas, allowing them to work in the UK.The firm's latest comments came as it reported first-half results, showing a profit before tax and exceptional items of £105m in the six months to 1 August, down from £167m in the same period last year. Morrisons said the whole British food industry was facing continued challenges from Covid-19 and sustained supply chain cost increases, which were largely outside its control. We expect some industry-wide retail price inflation during the second half, driven by sustained recent commodity price increases and freight inflation, and the current shortage of HGV drivers," it said. Chairman Andrew Higginson said the whole Morrisons team had shown "commendable resilience facing into a variety of continuing challenges during the first half, including the ongoing pandemic, disruption at some of our partner suppliers and the impact on our supply chain of HGV driver shortages".

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