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The head of British supermarkets Tesco warns of food price inflation by spring

2022-02-07T09:14:40.185Z


London, SANA- John Allen, head of the Tesco supermarket chain in Britain, expects that food prices in Britain will rise by


London-Sana

John Allen, head of the Tesco supermarket chain in Britain, predicted that food prices in Britain would rise by 5 percent by spring and warned that "the worst is yet to come".

Alan said, according to what was reported by the Guardian newspaper today, that "low-income and low-income people will have to choose between providing food and heating, and this is very worrying."

The overall inflation rate in Britain is currently 5.4 percent, the highest level in thirty years, and is expected to reach 6 percent by the spring in one of the most prominent crises that burden British families, with growing warnings of the danger threatening families with low incomes.

Alan acknowledged that some people will have a little money to spend on luxuries, as the price increases coincide with the high cost of National Insurance and the cost of the annual energy bill for the family to 1,971 pounds, and both decisions will enter into force next April.

The price hike prompted the Bank of England to raise interest rates to 0.5% last Thursday, the same day the energy bill increase was announced.

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Source: sena

All business articles on 2022-02-07

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