Sainsbury’s chief says grocery inflation not as bad as feared so far

Supermarket has lifted sales with Aldi price match, and has benefited from hot weather and World Cup matches

Business live – latest updates

Grocery inflation in the UK has not been as bad as feared so far, the boss of Sainsbury’s has said, but “pressure in the system” remains as the industry hopes for a swift resolution to the Middle East conflict.

Simon Roberts, the chief executive of the UK’s second-largest supermarket, said it was still early in the year and there was “still uncertainty where inflation will go”, but suggested it could come in well below the Food and Drink Federation’s initial prediction of at least 9% by December.
Continue reading...