Morrisons issues statement on rising food prices

Morrisons has said customers are “feeling the squeeze” in the face of rising food prices as it revealed a slowdown in sales over the latest quarter. Boss Rami Baitieh said inflation has “increased further” over the past two months amid a “challenging” environment for the business.

It came after figures from the Office for National Statistics (ONS) showed that the rate of food and drink inflation rose to 5.1% in August, from 4.9% in July. Mr Baitieh said: “Consumers are feeling the squeeze and we are continuing to work hard to help our customers make the most of stretched household budgets, staying true to Morrisons values of providing good affordable fresh food for all.

“In the fourth quarter, inflation has increased further and we are ad

See Full Page