The price of food should start to come down, but prices still up over 15 per cent in April
By Susie Watkins
2nd May 2023 | Local News
According to the BBC food prices in the UK continued to climb in April despite a drop in wholesale costs.
Food inflation jumped to 15.7% last month compared with April in 2022, up from 15% in March, the British Retail Consortium (BRC) said.
But the cost of a food shop "should start" to come down in the next few months, the trade body claimed.
Have you seen any food prices falling ? Nub News did see that the price of milk in one supermarket has been priced down, but it is still much higher than it was last year.
The supermarket chain Sainsbury's has denied that it is profiting while prices are still so high for shoppers.
Last week when the company released its company results, Simon Roberts, Chief Executive of J Sainsbury plc, said: "We really get how tough life is for so many households right now which is why we are absolutely determined to battle inflation for our customers. Our focus on value has never been greater and we have spent over £560 million keeping our prices low over the last two years. As a result, we are now the best value compared to our competitors that we have been in many years and we are delivering improved market share performance in Sainsbury's and Argos."
The company posted underlying profit before tax of £690 million, down 5% and at the top end of £630 million to £690 million guidance range.
Roberts added : " "Our colleagues do a fantastic job serving our customers every day and we know that they are also dealing with the impact of the rising cost of living. That's why, over the last 12 months, we took the decision to invest £225 million in supporting colleagues including raising colleague pay three times, becoming the first major supermarket to pay our people the Living Wage across the whole country and providing free food at work and increased colleague discount. The results we have achieved this year are testament to the outstanding contribution across our entire team. I want to thank every one of my colleagues for their dedication and hard work.
"We continue to work closely with our suppliers and farmers and I am grateful for their support in what has been another difficult year for food supply chains. We know just how vital the agriculture industry is not only to Sainsbury's, but to the country as a whole and this is why we have made the choice to give £66 million of additional support to British farmers over the last year."
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