Consumers are becoming increasingly frustrated with the soaring food prices and interest rates, Australia’s largest supermarket chain says.
Woolworths Chief Executive Brad Banducci said there are signs of overall inflation moderate in food, while inflation in many areas has been stubbornly elevated. He said the group needed to continue working hard to provide customers with value.
“I use the word frustrating just in the context of our customers. We are very cognizant of the pressure they are under and our need to deliver value,” Banducci said on Tuesday as Woolworths released its March quarter sales result.
The price of the supermarket giant’s food items jumped 5.8 percent in the 13 weeks to April 2, as it passed on cost increases from suppliers….