Tesco says price pressures easing as profits soar

Tesco has said price pressures on grocers have eased as it reported bumper sales and profits for the past year. The UK's biggest supermarket chain said pre-tax profits hit £2.3bn, up from £882m, while sales rose by 4.4% to £68.2bn.The company said price inflation in groceries had "Lessened substantially". Tesco forced to change Clubcard logo after Lidl row. Falls in chocolate and jam prices slow food inflation. Abrdn hits out at media 'bullying' over name change.

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