The Co-operative warned of food price increases and pressure on its annual profits from the mounting supply chain crisis as it swung to a half-year loss. The group’s Chief Executive, Steve Murrells, told the PA news agency that supermarket price rises are “coming” as retailers across the UK battle with the lorry driver shortage, increased shipping costs, and global commodity price rises. He said the company will look to offset the cost pressures “as best we can,” but said “some of that will filter down” to customers. The member-owned group, which also provides funeral and other services, reported underlying pre-tax operating losses of £15 million ($20.8 million) for the six months to July 3, compared with profits of £56 million ($77.8 million) a year ago, as it was hit by product availability issues and the continuing impact of the pandemic. It warned that the “unplanned supply chain challenges and ongoing COVID-19 …