The “worst is still to come” for hard-up Brits, the boss of Tesco warned today as he warned of a 5% hike in the weekly shop that will “squeeze” the poorest in Britain.
Chairman John Allan said food prices in the supermarket giant’s rose only 1% last quarter but are likely to be rising by 5% by the Spring.
He admitted some people will “of course” have less to spend on luxuries, as it comes at the same time as a National Insurance hike and a £693 rise in the average family’s annual energy bill, to £1,971.
