LONDON, Feb 7 — The “worst is still to come” over soaring food prices, Britain’s biggest retailer Tesco has warned as fears grow over a cost of living crisis caused by decades-high inflation.
Britain is experiencing the highest rate of annual inflation in nearly 30 years, while the cost of living is set to soar further from April owing to a tax hike on UK workers and businesses plus increases in energy bills. “So the likelihood is that that inflation trigger will rise but we’re doing all we can to offset it.”
British trades union umbrella body the TUC on Monday said that one in eight workers would struggle to afford the basics in the coming months, citing its own survey.
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