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Business Maverick: Tesco CEO Says Shoppers Are ‘Terrified’ of Inflation

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More than 75% of people are “terrified” of the effect the cost-of-living crisis will have on their families, according to the head of Britain’s largest supermarket.

Tesco Plc Chief Executive Officer Ken Murphy said the grocer has done a lot of research about how people are feeling right now as they battle the“We’re on the front line talking to customers every day and we can see and feel the pressure on the family budget,” said Murphy, speaking at a summit of the Consumer Goods Forum in Dublin on Thursday. “So I can’t overstate the mood of the people in all our markets.

Signs of consumer stress are particularly evident in the UK, he said, but are also present in Ireland and in central Europe where inflation has hit anMurphy’s remarks follow those made by Tesco Chairman John Allan in May when he warned that Britain was on the cusp of “real food poverty for the first time in a generation.”

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Why is your publication repurposing news from the UK? Have your editorial team not got the time or skills to pick up the phone and talk to PicknPay CheckersSA or Shoprite_SA? Shoddy journalism.

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