Food costs including milk and cheese are rising at their fastest since 1977.
Some food firms may be using inflation as an excuse to hike prices further than necessary, the chairman of Tesco has said.
Mr Allan said all supermarkets were challenging cost increases from suppliers where they could - and Tesco was confronting companies it believed were increasing prices beyond what was necessary."We have a team who can look at the composition of food, costs of commodities, and work out whether or not these cost increases are legitimate."Tesco, which has a 27.5% share of the
Inflation, which measures the rate of price rises, fell to 10.5% in the year to December from 10.7% in November - but remains at levels not seen for 40 years.Basics such as milk, cheese and eggs saw the biggest increases. Prices for jam, honey and chocolate also jumped. However, price growth slowed for bread and cereals.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Food firms raising prices unnecessarily, Tesco's John Allan saysChairman John Allan says it is 'entirely possible' food producers are taking advantage of the poorest.
Læs mere »
I tried a new Japanese restaurant in Leeds and they do the perfect SandoSandos form part of a unique food group known as yōshoku or Western-inspired Japanese food
Læs mere »
Meet Kiri Allan who could become New Zealand's first Maori and openly gay leaderMs Allan has been touted as one of the frontrunners to succeed Jacinda Ardern, but there are suggestions the Labour party may be more invested in 'winning votes not wokes'
Læs mere »
Tesco launch new Clubcard service throwing up some revelationsThe app also tells customers their favourite meal deal combos and shopping aisles
Læs mere »
'I tried shortbread from Aldi, Tesco, Asda & Morrisons and the best cost 85p'Shopping Writer Rachel Williams pitted four supermarket shortbread fingers against one other to find the best budget friendly option to tuck into.
Læs mere »
Tesco, IKEA, and Asda issue 'do not eat' warnings amid new product recallsSupermarket giants Tesco, Iceland and Morrisons have all issued product recalls to their customers, as certain items have posed safety and even injury fears to people who have purchased them.
Læs mere »