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David Sables, Chief Executive of negotiations specialists Sentinel Management Consultants revealed British food suppliers have bagged a five percent price increase from grocery chains which is expected to be passed on to consumers.
David told The Grocer: “We have seen suppliers negotiating around five percent increases. Many are starting to come to fruition. Retailers will try to soak it up. Most likely is consumer price increases.”
And one supplier told The Mirror: “A tsunami of price increases is heading towards supermarkets. Some suppliers are hanging on by their fingernails.”
However, Morrisons boss David Potts has said they will do everything they can to “mitigate price points”.
READ MORE: Marks & Spencer boss blasts EU over Brexit border controls
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