Jun 27, 2023
Tesco, Sainsbury's and rivals asked to explain high prices
Food prices remain a key reason why the overall rate of inflation in the UK remains stubbornly high. On Tuesday, MPs will grill senior supermarket bosses about food and fuel price inflation, asking if prices will come down this year. Supermarkets deny they are profiteering from high prices and claim their profits are being squeezed. The grocers say they are cutting prices where they can, arguing falls in commodity prices take time to filter through to the consumer. He said the only way supermarkets could lower their prices was by asking suppliers to cut costs, but he added: "We're certainly not in the position to start giving cost decreases on our products."At the end of the day, are going to have to take a cut in their margins if they really want to lower the prices on the shelf, that's the only way to do it.
Related companies
Make a complaint about Morrisons or Tesco by viewing their customer service contacts.
