Tesco has been accused of 'profiteering' after it was revealed that a tin of Heinz tomato soup has shot up from 95p to £1.70 in the past six months, despite the retailer's pledge not to pass on 'unjustifiable' cost increases.
The UK's biggest supermarket has been steadily increasing the cost of the family favourite during the cost of living crisis, but this week's jump of 21% nearly doubled the price since the summer, when the same product was selling for 95p. A week ago the cost price was £1.40, according to industry data. The hike comes just six months after Tesco pledged to stand by squeezed consumers and not pass on ‘unjustifiable’ price increases, leading to a bitter dispute with Heinz. Tesco was praised for standing firm against the giant, with Heinz cutting off supply to the supermarket temporarily during the dispute.
Last week, Tesco also announced it will be price-locking thousands of products until Easter of this year, in order to support customers with the cost of living, but the news was cold comfort for soup lovers, faced with spending 75p more for the same can of soup.
