UK's Tesco not seeing 'meaningful' food inflation from Iran war

LONDON, April 16 (Reuters) - ​The chief ⁠executive of Tesco, ​Britain's biggest food retailer, said he ​was ‌not yet seeing any meaningful inflation ⁠coming through from the ⁠Iran war on groceries, ​and the conflict's impact so far had just been on fuel prices.

"We ​are ‌not seeing any meaningful inflation coming through, with the obvious exception of the cost ​prices we've seen on fuel," CEO Ken ‌Murphy told reporters on a call on Thursday ‌after the company published annual results.

UK grocery inflation held at 4.3% in ​the four weeks to March 22, according ‌to data from researcher Worldpanel.

Murphy said he did not recognise a ⁠figure ⁠published by trade body ‌the Food and Drink Federation which warned ​food ​prices will be rising by ‌almost 10% by December.

Tesco