LONDON Oct 5 Britain's biggest retailer Tesco
sees no let up in deflation in the UK grocery market
any time soon, its boss said on Wednesday.
"As we look at the market and as we predict forward we still
see some deflation in the market place," Chief Executive Dave
Lewis told reporters.
"That's a reality we faced into the last two years and we
think we will continue to face into, certainly into the short
term," he said, adding that the market remained "very
Lewis was speaking after Tesco reported first-half results.
Separately on Wednesday, a survey published by the British
Retail Consortium reported a record drop in the cost of food and
found little sign of price rises on the back of sterling's sharp
fall since June's Brexit vote.
(Reporting by James Davey, Editing by Paul Sandle)