The cost of living crisis in the UK is set to get worse, according to Iceland boss Richard Walker. Mr Walker said the impact it was already having on his customers is giving him sleepless nights.
The managing director said: "What we’re facing is a challenge, not necessarily unprecedented. We have a real responsibility to look out for our customers. To be honest, some of our customers might only have £25 a week to spend on food so I was worried about them before this cost of living crisis but now it would give me sleepless nights because as we all know household bills are going through the roof, food is going up, you'll all have seen that.
"Therefore we've got an absolute obligation to look out as best we can for our customers. We're working day and night to get through this. As are our buyers, trying to keep prices as low as possible, but I think the reality is that official inflation figures are maybe just nudging 10%. The reality is it's more than that – we know that, our customers know that. And it probably will get a bit worse to be honest as the autumn bites.
