Jan 23, 2023
Food suppliers hit back at Tesco chair in price hike row
Food suppliers have hit back at claims by Tesco's chairman that they are using high inflation as an excuse to raise prices unnecessarily. The Food & Drink Federation called his comments "Difficult" and said the suppliers it represents have seen a "Massive" rise in their costs. Tesco expects its full-year operating profit to reach up to £2.5bn. It would be below the £2.8bn Tesco reported for the previous 12 months when Covid restrictions continued to boost online trade for the UK's big supermarkets. Mr Allan told Sunday with Laura Kuenssberg that Tesco had "Fallen out" with suppliers in the past over price rises. She said: "We're seeing a wholesale gas price 650% higher than it was back in 2019 and the cost inflation on that back of that has been absolutely unprecedented."It has dwarfed any price increases to date.
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