9/24, 2:34 PM (Source: TeleTrader)
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UK supermarket price hikes of up to 5% expected

A leading supermarket consultant told BBC Radio on Friday that he expects prices increases of "something like 5%" across the board on supermarket shelves in the next six to eight weeks due to the current supply crisis.

David Sables, chief executive of Sentinel Management Consultants, remarked that he had "never seen this level" of clients planning to increase prices due to supply issues caused by increases in shipping costs and shortages of drivers, labor and raw materials.

Sables said that this increase is based on existing supply issues alone and does not factor in potential pressures caused by dwindling gas supplies, which could see shoppers hit with price hikes "a second time ... after Christmas."

Breaking the News / IB