In the News - Supermarkets
Supermarkets use inflation reports to mask price increases
Supermarkets are raising prices over and above the amounts that their costs have increased, it emerged today. The move appears to echo fears expressed by Mervyn King, the Governor of the Bank of England, that some companies may use rising inflation to mask their own price increases. It is estimated that the average family's food bill has increased by 12.3% since last year, whereas supermarkets' costs only increased by an estimated 11.4%.
Since April the big four supermarkets - Tesco, Asda, Sainsbury's and Morrisons - have been embroiled in a price-war (reported most recently in 'In the News' on 21 August 2008). However, some critics have claimed that this was a “marketing ploy” as most of the price cuts were of 'limited benefit to most consumers'.
(Sources: Telegraph.co.uk)
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- Tesco Stores (0.11
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09-Sep-2008 10:53:50
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