The boss of Iceland says hard-up customers are telling his checkout staff to stop when they hit £40 - and then putting the rest back on the shelves. Managing director Richard Walker today admitted his discount chain is losing custom to food banks after a loaf of bread rose from 89p to £1.10 and milk prices shot up "quite dramatically".
Mr Walker blamed a “perfect maelstrom of inflationary pressures” - despite Chancellor Rishi Sunak “stepping up” and “pulling the right levers” with a £650 payment for benefit claimants, and £400 off electricity bills. He added many of the problems were global in nature, due to factors like the Ukraine war affecting wheat and oil.
He told Sky News’ Sophy Ridge on Sunday: "Everyone's feeling the pinch but certainly the harder-pressed communities are feeling it more. Generally, I think it is safe to say everyone is feeling the pinch now, it doesn't matter who you are.
