British Tesco head expects increasing food prices

The demand increases, therefore food will become more expensive – Philip Clarke the CEO of Tesco says. The majority of British people are willing to pay more, but only to the farmers not to the traders.

Food price increase is inevitable – said Philip Clarke, chief executive of the British supermarket chain Tesco, who believes that the historically low prices cannot be maintained – The Guardian writes.

“In long terms, food prices and money spent on nutrition from incomes will be significantly higher” – he said. According to him, the demand for food products is already growing, and this will result in price increases. [origo]