Tesco CEO: Higher Taxes, Regulatory Costs Add to Inflationary Pressure

The chief executive of Tesco said higher taxes and regulatory costs were adding to inflationary pressures, at a time when prices were rising in areas like cocoa, meat and poultry.

"There are definitely continued inflationary pressures on the market. I think you've got to look at things like the impact of all the new taxation and regulatory costs on the industry," chief executive Ken Murphy told reporters on Thursday.

He said Tesco's rate of inflation was below the industry rate. According to market researcher Kantar, British grocery price inflation...

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