Tesco boss says supermarket has fallen out with food companies hiking prices

The boss of Tesco has accused food firms of using inflation as an excuse to further raise prices.

John Allan says the supermarket giant is confronting companies trying to rip off customers.

He revealed Tesco had “fallen out” with “a number of suppliers” after “robust” talks over prices.

READ MORE: National Grid to pay customers to sit in darkness tomorrow – here's how you cash in

The spiralling cost-of-living crisis has seen the price of staples including milk and cheese at its highest since 1977. Asked if producers were taking advantage of hard-up Brits, Mr Allan said it was “entirely possible”.

He added: “We do try very hard to challenge [price hikes], I think.

“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.”

Heinz has hiked tomato soup by 73% from 98p for a 400g tin to £1.70 in a year, and beans up 35%. Unilever has put up a 400g bottle of mayo from Hellmann’s which is about to announce big profits – by 42% from £1.75 to £2.49.

  • Putin could 'disappear' from leadership as there is 'clearly something wrong with him'

Labour’s Sir Chris Bryant MP branded it “shameless profiteering”.

Consumer group Which? said Tesco was sixth in the list of supermarkets with the highest price rises.

It found that despite being the cheapest overall, Lidl’s prices went up the most in December at 21.1% since this time last year followed by Aldi at 20.8%.

For the latest breaking news and stories from across the globe from the Daily Star, sign up for our newsletter by clicking here.

READ NEXT:

  • Ryanair chaos as flight hit with bomb threat sparking fighter jet escort operation
  • Loose Women's Brenda Edwards says son Jamal watches over her from beyond grave as a fox
  • Mia Khalifa encouraged to be 'a d**k' as she wears penis outfit on UK beach

Source: Read Full Article