Apr 3, 2023
Tesco boss won't predict when food price inflation will ease
John Allan said the supermarket was "Doing our bit" to help customers cope with the impact of high inflation. He said soaring food prices meant there were people who were "Very, very, very hard pressed", adding that Tesco was trying to help customers cope by showing them ways in which they can economise. In a wide-ranging interview, Mr Allan also denied that Tesco was taking advantage of higher prices to make bigger profits. Mr Allan is backing Bite Back 2030, a youth-led charity movement campaigning for a fairer food system. "By and large, we have to accept the price increases that our suppliers provide. All the evidence I've seen suggests that Tesco has been raising prices more slowly than our competitors," Mr Allan said when asked about the governor's plea to firms.
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