But the consumer outlook for 2023 is poor, with the government’s budget watchdog having predicted the biggest squeeze on living standards since records began in the 1950s.
UK consumers will this year face persistent inflation in essential goods, particularly food and energy. Sainsbury’s current guidance is for 2022-23 underlying pretax profit of between 630 million and 690 million pounds, down from the 730 million pounds made in 2021-22.
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