Tesco: inflation eating into purchasing power

(CercleFinance.com) - On Friday, Tesco, the UK's largest retailer, reported LFL sales growth for Q2 2022/2023.


In the 13 weeks to 28 May, sales at its shops open for at least a year rose 2% at group level to 13.57 billiin pounds.

While the business of its subsidiary Booker, the UK's largest food wholesaler, rose by over 19% in the period, like-for-like sales at its UK shops actually fell by 1.5% in the quarter.

Management said that it saw early signs of a change in consumer behaviour in response to soaring inflation.


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