Latest news with #IcelandSupermarket
Yahoo
3 days ago
- Business
- Yahoo
Iceland blames Rachel Reeves for price rises
Iceland has blamed Rachel Reeves for fuelling higher food prices, months after its Labour-backing chairman told businesses to stop complaining about the Budget. Bosses said the supermarket 'will inevitably have to pass [some cost increases] on to consumers' after food makers were struck by an increase in both employers' National Insurance contributions and the National Living Wage. Iceland said: 'We are doing our utmost to offset the growing input cost pressures caused by suppliers seeking to recover the increase in their own labour costs arising from last autumn's Budget, but will inevitably have to pass some of these on to consumers, where we can do so without weakening our own price position in the marketplace.' In accounts published this week and signed off in July, the company said it was now expecting UK food price inflation to peak at between 4pc and 5pc in the next six months. The comments follow warnings over the rising cost of the weekly shop, with the Bank of England this week saying it was expecting increases for the rest of the year. Officials said supermarket price rises had been fuelled by government policy, pointing to the increase in the minimum wage, the Chancellor's tax raid and a net zero packaging levy. Faster than expected increases in food prices are set to send the overall rate of inflation to a peak of 4pc in September. The higher prices at Iceland come after the supermarket's chairman Richard Walker previously urged rival grocery bosses to stop 'wallowing' and 'complaining' about Ms Reeves' tax raid. Mr Walker, a former Tory donor who changed allegiance in January 2024, said in December: 'This isn't a time for businesses to wallow… The Government isn't going to change its mind. It was a tough Budget, but we adapt.' Credit rating agency Fitch recently raised concerns over Iceland's profitability, suggesting the supermarket chain would have to invest in price cuts this year at a time when it is battling higher costs. It said the supermarket, which employs more than 30,000 people, would face 'momentary profit pressure'. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
4 days ago
- Business
- Telegraph
Iceland blames Rachel Reeves for price rises
Iceland has blamed Rachel Reeves for fuelling higher food prices, months after its Labour-backing chairman told businesses to stop complaining about the Budget. Bosses said the supermarket 'will inevitably have to pass [some cost increases] on to consumers' after food makers were struck by an increase in both employers' National Insurance contributions and the National Living Wage. Iceland said: 'We are doing our utmost to offset the growing input cost pressures caused by suppliers seeking to recover the increase in their own labour costs arising from last autumn's Budget, but will inevitably have to pass some of these on to consumers, where we can do so without weakening our own price position in the marketplace.' In accounts published this week and signed off in July, the company said it was now expecting UK food price inflation to peak at between 4pc and 5pc in the next six months. The comments follow warnings over the rising cost of the weekly shop, with the Bank of England this week saying it was expecting increases for the rest of the year. Officials said supermarket price rises had been fuelled by government policy, pointing to the increase in the minimum wage, the Chancellor's tax raid and a net zero packaging levy. Faster than expected increases in food prices are set to send the overall rate of inflation to a peak of 4pc in September. The higher prices at Iceland come after the supermarket's chairman Richard Walker previously urged rival grocery bosses to stop 'wallowing' and 'complaining' about Ms Reeves' tax raid. Mr Walker, a former Tory donor who changed allegiance in January 2024, said in December: 'This isn't a time for businesses to wallow… The Government isn't going to change its mind. It was a tough Budget, but we adapt.' Credit rating agency Fitch recently raised concerns over Iceland's profitability, suggesting the supermarket chain would have to invest in price cuts this year at a time when it is battling higher costs. It said the supermarket, which employs more than 30,000 people, would face 'momentary profit pressure'.
The Independent
29-05-2025
- Business
- The Independent
Iceland issues urgent recall on bread rolls after customers told ‘do not eat'
Iceland has issued a 'do not eat warning' for a popular lunchtime snack after failing to mention the product contained barley. The supermarket has recalled its Daily Bakery 4 Sub Rolls over fears the cereal grain poses a 'significant risk' to those with an allergy or intolerance. Only bread roll packs with the best before date of June 2 are affected by the recall and a product recall alert will be displayed on shelves at the popular supermarket until June 11. The Food Standards Agency, who issued the recall, said: 'If you have bought the above product, do not eat it. 'Instead, return to any Iceland retail store where a full refund will be given. No receipt is required.' A recall notice will be displayed in shops for the next two weeks (Iceland) A food intolerance to barley can trigger symptoms, such as diarrhoea, bloating, gas and stomach pain just a few hours after eating it, the NHS warns. However, it can also cause headaches, fatigue, constipation, join pain and rashes that last anything from a few hours to days. Barley contains gluten, so it can also affect those with Coeliac disease – a condition that causes damage to the small intestines and destroy's the guts ability to absorb nutrients. Diarrhoea is also a common symptom of coeliac disease, caused by the body being unable to absorb nutrients. Malabsorption can also cause stools to contain abnormally high levels of fat – making them smell foul, greasy and frothy, the NHS says. A point-of-sale notice will be displayed in all Iceland supermarkets that sell the product. Customers with an allergy or intolerance who have purchased the affected bread rolls are advised to return them to the point of purchase for a full refund. Although food safety officials recall a product when they consider it unsafe, it does not mean it will be pulled from supermarket shelves for good.
