Asda boss issues statement on rising food costs

The government must do more to help tackle the cost of living crisis, the chairman of supermarket giant Asda has said. Lord Rose said the crisis comes at a time when there are a range of issues that need to be addressed, including managing inflation and the impact of war in Ukraine.

He told the BBC’s Sunday morning show: “What we all need to do now is maybe change our behavior. I will personally examine my own behavior – what I need and what I don’t need. The government cannot fix all the problems, but the government can do some things. He could talk to the industry. He could talk to food retailers to make sure we remove all the extra costs. »

He called for “continuity across all four UK countries”, adding: “At the moment there are no uniform rules regarding the disposal of waste. There are no uniform rules regarding Covid. There are no one-size-fits-all rules on all sorts of things. Government needs to look and say ‘how can we make it simpler?’. Government can’t solve all the problems. Together we all need to think to thoughtful ways to improve this.

“At the end of the day, unfortunately, the consumer will also suffer.” Asda chairman Lord Rose did not predict how much food prices could rise, but said ‘there is a ripple effect’ due to the cost of raw materials and the impact of inflation.

Sunflower oil, wheat and oil prices were affected by the war in Ukraine. Lord Rose told the BBC’s Sunday morning show: ‘We don’t know what will happen to petrol prices and everything else and clearly that will be dictated by how long this war lasts , but I fear there is a ripple effect for all commodities.

“There is going to be a new level of costs for these raw materials and they will not go down. It’s a new high and it’s something people are going to have to adjust to. What we are now going to have to think about, is this going to have a long term effect on inflation because then we will have a wage spiral, or not?

“The converse is that we could end up, if we don’t have growth in the business, in stagflation. They’re both evil and the government has a very difficult and tricky road ahead.

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