There are “encouraging early signs that inflation is starting to ease,” Tesco’s boss has said as the retail giant reported higher sales for the past quarter.
Ken Murphy, chief executive of the UK’s largest grocery chain, suggested that rampant food inflation could have passed its peak, though he stressed that customers continue to face cost-of-living pressures.
He told reporters on Friday, “We are very conscious that many of our customers continue to face significant cost-of-living pressures and we have led the way in cutting prices on everyday essential items. There are encouraging early signs that inflation is starting to ease across the market and we will keep working tirelessly to ensure customers receive the best possible value at Tesco.”…